News - Page 428 of 550 - The Financial Wire

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CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

David Keller3 months ago3 months ago09 mins

Medicare patients waiting days or weeks for drug plan approvals could see that timeline shrink to hours. The Centers for Medicare & Medicaid Services (CMS) has proposed rule CMS-0062-P, which would force Medicare drug plans to issue standard prior authorization decisions within 72 hours and urgent decisions within 24 hours. Public comments on the proposal…

The 2026 Saver’s Credit pays up to $1,000 to lower-income workers who put $2,000 into a 401(k) or IRA — yet about 1 in 5 eligible filers never claims the credit every year

David Keller3 months ago3 months ago09 mins

Millions of lower-income workers stand to receive up to $1,000 from the federal government simply for contributing $2,000 to a 401(k) or IRA, yet roughly one in five eligible filers leaves that money on the table every year. The Saver’s Credit, codified in federal tax law as a nonrefundable personal credit, applies a sliding percentage…

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Social Security’s trust fund empties in 2034 — triggering an automatic 19% cut that drops the average retiree’s check from $1,976 to about $1,600 a month overnight

Warren Cohen3 months ago3 months ago014 mins

Somewhere in Ohio, a retired teacher deposits $1,976 from Social Security each month and stretches it across a mortgage, utilities, and the medications her insurance does not fully cover. In Texas, a disabled warehouse worker counts on his benefit to make rent. In Florida, a 72-year-old widow has no other income at all. None of…

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The VA just added hypertension, hypothyroidism, and monoclonal gammopathy to the Agent Orange presumptive list — Vietnam-era veterans denied for these can file again without re-proving service connection

Warren Cohen3 months ago3 months ago011 mins

A Vietnam veteran who developed high blood pressure years after returning from service used to face a brutal catch-22 when filing a VA disability claim: prove that herbicide sprayed in a jungle 50 years ago caused a condition that millions of Americans develop for other reasons. The medical evidence was nearly impossible to produce, and…

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The OCC’s bank fee rule takes effect in 27 days — federal preemption overrides every state cap on interchange fees, including Illinois’s ban on tips and sales tax

Warren Cohen3 months ago3 months ago013 mins

Restaurants, retailers, and card-issuing banks operating in Illinois will lose a state-level shield against interchange fees on tips and sales tax in less than a month. The Office of the Comptroller of the Currency has issued an interim final rule, effective June 30, 2026, that confirms national banks can charge non-interest fees, including interchange fees…

April housing starts fell to a 1.465-million annual rate — down 2.8% from March — and single-family starts dropped 9% to 930,000, the weakest pace since 2023

Warren Cohen3 months ago3 months ago013 mins

American homebuilders broke ground on fewer houses in April than at any point in more than two years, a pullback concentrated in single-family construction that threatens to deepen the country’s housing shortage. Total housing starts fell to a seasonally adjusted annual rate of 1.465 million units, a 2.8% decline from March. Single-family starts dropped 9%…

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Student loan borrowers have 28 days to leave the SAVE plan — miss July 1 and the government auto-enrolls you in Standard Repayment by September

David Keller3 months ago3 months ago010 mins

Federal student loan borrowers still enrolled in the SAVE plan face a hard deadline: beginning July 1, 2026, loan servicers will start sending notices that give each borrower 90 days to pick a different repayment option. Anyone who does not respond will be automatically placed into the Standard Repayment Plan or a replacement plan by…

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NCUA Share Insurance covers $250,000 per credit-union member, per account category — IRA and Keogh retirement balances get their own separate $250,000 line

David Keller3 months ago3 months ago08 mins

Credit union members who hold both regular savings and retirement accounts at the same institution can protect far more than $250,000 in total deposits, because federal rules treat each ownership category as a separate insurance line. A member with a standard share account, an IRA, and a Keogh plan at one credit union could keep…

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Trump Accounts officially open July 4 — and Treasury starts seeding $1,000 into the new account of every U.S. baby born between January 2025 and December 2028

David Keller3 months ago3 months ago011 mins

Every child born in the United States between January 1, 2025, and December 31, 2028, who holds U.S. citizenship and a valid Social Security number will receive a $1,000 federal deposit into a new savings account when the Trump Accounts program officially opens on July 4, 2026. The launch, timed to coincide with the nation’s…

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Each Roth IRA conversion starts its own 5-year clock — a 60-year-old retiree who converts $400,000 in 2026 owes a 10% penalty on every dollar he touches before January 2031

David Keller3 months ago3 months ago012 mins

A retiree who rolls a traditional IRA into a Roth account does not simply flip a switch and gain penalty-free access to those funds. Each conversion starts its own separate five-taxable-year waiting period, and withdrawing converted dollars before that clock expires can trigger a 10% additional tax, even when the account holder has already paid…

CMS comments close June 15 on a rule forcing Medicare drug plans to approve prior authorization within 72 hours — 24 hours for urgent requests

The 2026 Saver’s Credit pays up to $1,000 to lower-income workers who put $2,000 into a 401(k) or IRA — yet about 1 in 5 eligible filers never claims the credit every year

The VA just added hypertension, hypothyroidism, and monoclonal gammopathy to the Agent Orange presumptive list — Vietnam-era veterans denied for these can file again without re-proving service connection

The OCC’s bank fee rule takes effect in 27 days — federal preemption overrides every state cap on interchange fees, including Illinois’s ban on tips and sales tax

April housing starts fell to a 1.465-million annual rate — down 2.8% from March — and single-family starts dropped 9% to 930,000, the weakest pace since 2023

Student loan borrowers have 28 days to leave the SAVE plan — miss July 1 and the government auto-enrolls you in Standard Repayment by September

NCUA Share Insurance covers $250,000 per credit-union member, per account category — IRA and Keogh retirement balances get their own separate $250,000 line

Trump Accounts officially open July 4 — and Treasury starts seeding $1,000 into the new account of every U.S. baby born between January 2025 and December 2028

Each Roth IRA conversion starts its own 5-year clock — a 60-year-old retiree who converts $400,000 in 2026 owes a 10% penalty on every dollar he touches before January 2031

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