Westpac Buys Lloyds Assets as Rules Encourage Asia Retreat

Westpac Banking Corp. (WBC) agreed to buy Lloyds Banking Group Plc (LLOY)’s Australian assets as tighter capital rules following the 2008 financial crisis prompt European and U.S. lenders to retreat from the Asia-Pacific region. The transaction valued at A$1.45 billion ($1.37 billion) includes an A$8.4 billion leasing and corporate loan portfolio, Sydney-based Westpac, Australia’s second-largest lender by market value, said today in a statement.......

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L&G bids for Co-op's household business

Legal & General has tabled a bid for the Co-operative Group’s household insurance book, according to reports. Sky News reports that L&G is not interested in the mutual’s motor insurance book, an approach which is forcing the Co-op to consider dividing up the business. Catalina Holdings and Anacap are also reported to be amongst the bidders for the Co-op’s general insurance operation. And former RSA chief Andy Haste is rumoured to be working on a separate bid with private equity firm Advent International. A Co-op spokesman said: “We do not comment on speculation. We will issue an update......

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Glitches Mar Rollout Of Health Care Marketplaces

Technical glitches continued to plague the first day of healthcare signups for the Affordable Care Act -- more commonly known as Obamacare -- on Tuesday, with the healthcare.gov website at times temporarily shutting down. Republican critics of the healthcare program were quick to point out the problems, while President Obama said the mix-ups were largely a consequence of massive consumer demand. "We're working to resolve the issue as soon as possible," the website told users who attempted to sign up for health insurance on the federal exchanges. "Please try again later." Before the site......

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The Key players of Bettencourt scandal

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Obamacare and Mega Blue

The Obama administration plans on Monday to announce scores of new health insurance options to be offered to consumers around the country by the Blue Cross and Blue Shield Association and the United States Office of Personnel Management, the agency that arranges health benefits for federal employees, according to administration officials.The options are part of a multistate insurance program that Congress authorized in 2010 to increase......

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Cavalcade of Risk #193: Call for Submissions (And A Special Note)

Dennis Wall hosts next week's Cav, and he's chosen to build it around a rather interesting (and provocative) theme:The Rich Get Richer from the Great Recession, The Unemployed Stopped Looking.So, please try to submit a post that fits this theme (of course, non-themed posts are also welcome).Submissions are due by Monday the 30th.To submit your risk-related post, just click here to email it.You'll need to provide:■ Your post's url and title■ Your blog's url and name■ Your name and email■ A (brief) summary of the postPLEASE remember: ONLY posts that relate to risk (not personal finance tips......

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Cute vs Real

This is how Ms Shecantbeserious sees the ObamaTax:And this is reality, barking back at her:[HatTip: Ace of Spad......

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ObamaTax Exchange Crunch-Time edition

Poor Ms Kathy: the clock keeps on tickin', and her pet project keeps getting a lickin'.To wit:■ Capital City itself"The ObamaCare exchange serving Washington, D.C. is delaying important parts of its operations less than a week before it is scheduled to open for enrollment"Not only won't potential enrollees be unable to calculate their subsidies (if any), but they can't even determine whether or not they're eligible for Medicaid.■ Colorado"Colorado exchange managers revealed Monday ... that customers who want tax credits to make health insurance more affordable will have to call for help, rather......

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A Gentle Reminder...

For HHS Secretary Shecantbeserous:COUNTDOWN CLOCKSThis word "start" - I dunna think it means what you think it means:"In response, Joel Ario, a former HHS official who oversaw health exchange matters at the agency, told The Washington Post’s Sarah Kliff that “nobody is going to say we’re not starting on October 1, but in some situations, you may see a redefinition of what ‘start’ mean......

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Health Wonk Review is up!

Peggy Salvatore presents this week's terrific Health Wonk Review, celebrating blogger Brad Wright's 700th post (Mazel Tov, Brad!). The main theme of this week's collection of wonky posts is (no surprise), the ACA. Lots of quality entries this week - enjoy!Bonus: Mike's post (about how the ACA is playing out in the Golden State) got top billing - go Mi......

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Singles for Obamacare

Psst. Wanna save money on your Obamacare plan? Stay single. If you are married, get a divorce.The "wedding tax" is upon us.To illustrate, let’s start with the 60-year-old married couple with no children If they have identical earnings totaling $65,000, which will usually net down to $50,000 or below after all income and payroll taxes, their Obamacare exchange Silver Plan premium next year with the same earnings will be $16,382, or about......

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One Down, Ninety-Nine More To Go

Obamacare navigators. Much has been written about this job creation project that is tied to Obamacare. Take 3 days of training and you are qualified to answer any and all questions about Obamacare. Background checks not required.The state of Georgia decided to pass on creating our own exchange which meant the feds had to handle that task . . . along with setting up exchanges in 32 other states.Navigators will earn $10 - $14 per hour and even more......

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Spain's Obamacare on the Ropes

Spain is like most other European countries in providing their own version of Obamacare, a government managed health care delivery system funded by taxpayers. And like other countries that provide "health care for all", the program is bleeding profusely."The impact we have seen in the year since the reform is simply devastating," the president of the organisation, Alvaro Gonzalez, told a news conference, launching a new publicity campaign against......

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Euthanasia in Netherlands up 13% in 2012. Aren't the Dutch happy?

“The number of Dutch people killed by medical euthanasia has more than doubled in the 10 years since legislation was changed to permit it, rising 13 per cent last year to 4,188 . . . One explanation for the steep rise of Dutch cases is the introduction last year of mobile euthanasia units allowing patients to be killed by voluntary lethal injection when family doctors refused.”Is this bad news or good news?  Does the growing use of euthanasia mean the Dutch are actually becoming less happy?  Could it be the Dutch are less happy than Americans - even though - on the prestigious, European-based......

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Feature or Bug?

Yesterday's McPaper characterized one aspect of the ObamaTax pricing regime as the "Family Glitch:""Congress defined "affordable" as 9.5% or less of an employee's household income ... the "error" was that it only applies to the employee — and not his or her family. So, if an employer offers a woman affordable insurance, but doesn't provide it for her family, they cannot get subsidized help through the state health exchanges."Why is this both an "error"......

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Patient Protection Act - Cause it isn't Affordable

With insurance Exchanges Marketplaces nearing their grand opening HHS has released another issue brief on the "low rates" people will pay after subsidies. In one of the examples they use a 27 year old in Texas who makes $25,000 per year. This person will pay $145 for the second lowest cost silver plan or $83 for the bronze plan after the subsidy.HHS is so focused on premiums and making this trainwreck look affordable that they are missing the boat on a key component, the benefits. Without knowing the health history of the individual they may in fact be promoting the exact opposite of what the......

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Alzheimer's Update: Good news (for once)

SoIB Gail S tips us to this recent story in the Dayton Daily News, recounting an award-winning therapy that's deceptively simple:"Three years ago, Wright State University professor Dr. Govind Bharwani was given a challenge: Find a way to help people living with Alzheimer’s disease so they are less prone to becoming confused, agitated, withdrawn and falling."And it appears that he has, in fact, succeeded:"The therapy works by providing each person with their own “memory box” filled with family photos, books and movies they love and other special items."Once you think about it, it's kind of intuitive:......

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Take two apps and call me in the morning

Introducing the iDoc® (not really, but we're getting close):[Hat Tip: FoIB Jeff......

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How uninformed can NYT readers, commentors possibly be?

Every once in awhile you see a comment that just makes you stop and ask how clueless and misguided people can be, then you remember they are allowed to vote.Your typical NYT tripe from some blowhard that doesn't understand 90% of what he is talking about. The real gem is down in the comments though;mikeosheaHadley, NY"All Republican Congresspeople - except those on Medicare - should be required to buy their own and their family's health care BY THEMSELVES, just as I must buy my wife's (I'm on Medicare, thank the gods) health insurance by myself."Odd, I thought that is exactly what the law (ACA)......

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ObamaTax Health Exchange (Marketplace) news

So yesterday, I did my Exchange training and exams. Started at about 9:30 in the morning, finished about 4:30 in the afternoon.I understand Pat completed this in just a few hours, but he's a lot younger (and apparently smarter) than I am. And I also took the liberty of saving all the training material for future reference (which no doubt added some time, as well)I'll have a more complete report soon, but here are some of my initial impressions fresh......

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ObamaTax School's Now In Session!

Learn it, live it, love ......

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I've been remiss....

In case you missed it, I'm the newly-installed Content Expert Writer (Insurance) for Answers.com. It occurs to me that IB readers might be interested in some of my work in that venue, so here are some free samples:Part 1 of a 3-part series on Universal LifeAn explication of Insurable InterestEnj......

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But it's a nice hat. That's because the people paid for that hat.

Remember the President's assurances that his ACA would finally “bend the cost curve”? Despite a determined rear-guard media that clings to Obama's every word as universal truth, evidence accumulates that the President was talking thru his hat. On September 17, 2013, CBO released it's most recent Long-Term Budget Outlook.According to CBO, in 20 years, “major health care programs” will be the largest component of federal spending.  CBO expresses its estimate relative to GDP - which is also growing.  CBO's estimate is that federal health care spending will increase from roughly 3% to north......

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Cavalcade of Risk #192: Galloping Into View edition

Nancy Germond hosts this week's romp through the wilds of risk, a maze of medical conditions, and a not-so-*fowl* post on chickens (cluck all you want).......

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Bored Game

If you have nothing to do, what happens? Some drink. Some go shopping. Others create board games."Everybody has to pay. Nobody ever wins,"Each player starts out on the "Buy Insurance" square as a small business owner (except for the Occupy Wall Streeters, who begin the game unemployed). Along the way, players are taxed, troubled, hospitalized, or may even fall victim to a death panel as they make their way across the board.CNS NewsDo not pass Go.Do......

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Obamacare Cry Babies

Employees of Bibb County (GA) schools got an early peek at their new benefit plan for 2014. Through the end of this year employees had a choice between several plans administered by UHC or Cigna. They could pick an HMO or PPO. Copay or high deductible HSA or high deductible HRA.Choices, choices.That was then. This is now.The Georgia Blue's got tired of sitting on the sideline and made a winner take all offer to the SHBP (State Health Benefit Plan)......

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