Extending parental coverage

In an economy where young adults struggle to cope with costs of living and employment, should health also be a worry?

Many young adults remain without any medical insurance primarily due to the cost and many have jobs that can’t quite provide them with enough wages to allow them to pay out of pocket if their companies don’t provide for health coverage.

At least state governments are doing something about it while the Federal government continues to finalize health care reforms.

New York, for example, passed a law in June allowing parents to cover young adult children up to the age of 29 under their employer-provided healthcare. The conditions – child may/must not have any other coverage and should reside within the state. More than 20 other states have similar laws which allow parents to cover children up to their mid to late 20s.

Young people sure can take advantage of this but we sure hope that this doesn’t increase the a mentality of overdependence to parents.

Obama’s public health insurance might not push through

President Obama has been bent on providing public healthy insurance. While this is probably something all Americans dream of having, the proposal has hit quite the opposition from both Republicans and Democrats alike that it is most likely to be scrapped.

Health care has been on the legislature’s agenda. The administration aimed to run a health insurance corporation to help out the 50 million uninsured Americans. This, however, isn’t part of the core health care reform proposals.

Facing mounting opposition to the overhaul, administration officials left open the chance for a compromise with Republicans that would include health insurance cooperatives instead of a government-run plan. Such a concession probably would enrage Obama’s liberal supporters but could deliver a much-needed victory on a top domestic priority opposed by GOP lawmakers.

The relation of health insurance and mortality rates have been very well documented. For one, the lack of insurance often prevents people from seeking preventive care. Sickness are often caught in their late and extreme stages.

AIG to hold first shareholders’ meeting with US taxpayers in control

Former insurance giant AIG owes quite a lot to US taxpayers. Not only does the company owe taxpayers billions of dollars in form of bailout funds, it also has to win back the people’s trust after the executive bonus fiasco. AIG contracted the ire of the people after handing out millions of dollars to executives as bonuses despite being bailed out by the government.

AIG is set to hold its annual shareholder’s meeting on Tuesday – the first since the US taxpayers took majority control. Taxpayers will be represented by three trustees from the government.

Part of the plan is to elect six new officers to the 11-seat board of directors. Those to be ousted from the board is current Chairman and CEO Edward Liddy. Liddy has already announced that he will be stepping down from his positions last month. His positions are expected to be filled by two separate people.

AIG owes the government $70 billion dollars. The company estimates that it might take them five years to fully repay the debt.