Arizona’s marketplace was once among the nation’s most competitive, with 11 insurers selling plans in 2015 and eight insurers this year. But six major health insurers, some citing financial losses accumulated during the first three years of the Affordable Care Act, exited the state’s marketplace for 2017.
In the last five years, the share of employees enrolled in high-deductible plans has more than doubled, to 29 percent, according to a new employer survey from Mercer, a benefits consultant. Since the bulk of Americans receive their coverage through an employer, that means about 50 million people are enrolled in high-deductible plans.
With a nearly $100 million increase in unfunded police and fire pension liability in the past year, the City of Springfield is an example of what other cities across the state could soon be dealing with.
For example, a 2015 valuation found that the University of Toronto has a $1.1-billion solvency deficit in its pension fund. A solvency deficit is the shortfall that would arise if a plan was immediately wound down and all accumulated benefits came due.
The swaps, which provide insurance against nonpayment on bonds, can help investors hedge against credit risks after 21 securities defaulted this year, compared with only seven in 2015.
The world’s biggest oil exporter is projecting a budget deficit of $87 billion this year. It has taken a series of austerity measures, including subsidy cuts, reductions in cabinet ministers’ salaries and delays in major projects.
The U.S. Treasury said on Monday it would borrow more during the October-December period than it had previously estimated. The Treasury said in a statement it expects to borrow $188 billion through credit markets during the period, up from an initial estimate of $182 billion.
The report noted an increase of private debt to banks due to a growth in non-performing loans (NPLs), to the tax office (1.1 billion euros per month on average in the first eight months of 2016), to insurance funds (25 billion euros), and even to the Public Power Corporation (PPC at 0.67 percent). The dimension is such that private debt (overdue debts to banks, the public sector and insurance funds) are approaching dangerous levels near those of public debt.
The figures are clear. In 2013, two years after a property tax was introduced (previously, real estate tax revenue came mainly from transfers or conveyance taxes), 29,200 people declined to accept their inheritance, according to the Justice Ministry. In 2015, the number had climbed to 45,627, an increase of 56 percent in two years. Reports from across the country suggest that this year, too, large numbers of people are refusing to inherit.
South Korea’s credit-to-gross-domestic-product gap came to 3.1 in the first quarter of this year, falling in the category of attention. The Bank for International Settlements said on its website that large gaps have been found to be a reliable early warning indicator of banking crises or severe distress.
China’s non-financial debt is estimated to be more than $22.7 trillion, accounting for 227.92 per cent of its GDP, a senior Chinese finance ministry official said today amid concerns it may spiral out control.
The world’s second-largest economy is slowing. Easy credit and successive fiscal stimuli, designed to keep China aloft, mean it is awash in money that is chasing an increasingly small number of investment opportunities. China’s money supply has quadrupled since 2007, and the new cash is largely trapped inside the country by government capital controls.
China’s central bank injected a total of 763.71 billion yuan ($112.8 billion) via short- and medium-term liquidity tools in October, its data showed on Tuesday, as it seeks to support credit expansion and the economy.
The new forecast signals the BoJ is willing to tolerate slower progress without adding more stimulus and raises questions about the continuity of policy, because it may be necessary to continue Mr Kuroda’s massive monetary stimulus after he leaves office.
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