Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The federal government said Tuesday it will soon move to close a loophole in Obamacare that could allow big employers to refuse to cover employees' hospitalizations.
That loophole is significant because hospital-stay costs can quickly become high.
The loophole is linked to Obamacare rules that will require mid- to large-size employers starting in 2015 to offer affordable health plans to employers or pay a fine.
Under the Affordable Care Act, such plans must have a so-called "minimum value," in which health plans cover around 60 percent of the costs of benefits, on average.
But some health insurance plans now being marketed to employers do not include in-patient hospitalizations as a covered benefit for workers, according to the U.S. Health and Human Services Department.
Nonetheless, some of those plans reached the 60-percent minimum value threshold according to an online calculator, HHS said.
In a "fact sheet" posted online Tuesday, HHS said it believes "that plans that fail to provide substantial coverage of in-patient hospitalization services or for physician services (or both) . . . do not provide the minimum value intended by the minimum value requirement."
HHS and the Treasury Department "will shortly propose regulations to this effect," and expects the rules to be finalized and implemented in 2015.
The departments said because of that intended regulation, health plans that lack coverage for hospitalizations or physician services "should not be adopted for the 2015 plan year."
But HHS also said employers who have already begun enrolling workers in such plans before Tuesday will not be affected by the expected regulation.
However, until the regulation is issued, workers at companies with such plans may be able to get federal subsidies to buy plans elsewhere, on government exchanges, if their incomes qualify them for that financial aid, according to HHS.
Under the ACA, workers cannot get such financial assistance to buy plans purchased through the health-care exchange if their employer is offering them a plan that provides minimum value.
The fact sheet can be read here.
The fact sheet was posted a day after USA Today published a story detailing the Obama administration's intention to close the hospitalization loophole.
In that story, Brian Klepper, CEO of the National Business Coalition on Health, said that plans that do not cover the costs of hospitalizations are "preying on vulnerable people who don't have resources."
"The purpose of insurance is to cover the services that most of us cannot afford when we desperately need it," Klepper told USA Today.