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Bernard W. Dempsey, S. In a centralized economy, currency is issued by a central bank at a rate that is supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. The monetary base is controlled by a central bank.

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Bet on obamacare

Productivity — in this case the provision of care per dollar and the improvements in health to which it leads — has never grown as quickly as would be required for hospitals to keep pace with scheduled cuts to reimbursements from Medicare. But to finance coverage expansion, the Affordable Care Act made a big bet that hospitals could provide better care for less money from Medicare. Hospitals that cannot become more productive quickly enough will be forced to cut back.

If the past is any guide, they may do so in ways that harm patients. The Obamacare gamble that hospitals can become much more productive conflicts with a famous theory of why health care costs rise. This theory asserts that productivity growth in health care is inherently low for the same reason it is in education: Productivity-enhancing technologies cannot easily replace human doctors or teachers.

In contrast with, say, manufacturing — a sector in which machines have rapidly taken over functions that workers used to do, and have done them better and more cheaply — there are, at least for the time being, far fewer machines that can step in and outperform doctors, nurses or other health sector jobs. Hospitals are providing better care at a faster rate than growth in the payments they receive from Medicare, according to the study. This is both good news for patients and good news for the financing of the health reform law, which assumes hospitals will become significantly more productive.

This bet is built into a schedule of reductions in the rate of growth in Medicare payments to hospitals. According to the law, those rates are to be reduced commensurate with the productivity growth of the overall economy. The only way for hospitals to keep up is if their productivity rises just as quickly. This, according to the theory, is what causes health care spending growth to outpace that of the overall economy. High productivity growth in such sectors — not mirrored in health care — leads to wage growth in those sectors.

Higher wages provide more resources to spend on goods and services. Because health care is valuable, we use those resources to pay health care workers more, too, to keep them from doing something else. This helps explain why health care spending outpaces economic growth: We keep paying more for health care through growing wages without getting more because of low productivity growth. Not all economists find every detail of the cost disease theory compelling.

Some have argued, for example, that it gives short shrift to ways in which the quality of care changes, along with its price. Another factor is the two years that have passed since Republicans effectively eliminated the mandate, and in that time, Obamacare has continued to function. The many factors at play lead Miller — a long-time critic of Obamacare — to be skeptical that any decision will be as far reaching as either side hopes or fears.

The brewing battle in Congress to replace Justice Ginsburg will also keep the temperature high in the weeks ahead. If Trump succeeds in getting another like-minded justice on the court before Nov. One last thing to remember: While the arguments are happening this year, a final ruling is not expected until Adriana Belmonte is a reporter and editor covering politics and health care policy for Yahoo Finance. How Democrats can save Obamacare. Supreme Court to hear arguments on Obamacare, now crucial amid coronavirus pandemic, right after election.

The Supreme Court will consider Obamacare's constitutionality — and the outcome could bring 'total chaos'. Read the latest financial and business news from Yahoo Finance. Happening Now. Adriana Belmonte and Ben Werschkul. Tags Health yfelection tax leadership politician. Ready to Withdraw from Your Retirement Accounts?

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Read the latest financial and business news from Yahoo Finance. The Raptors scored in abundance versus the Wizards, with seven players hitting double digits en route to a fairly effortless win. Alan Strickland's lawsuit never held much weight after body-cam footage revealed him to be the aggressor against Ujiri after the NBA Finals.

The hope is to provide everyone from coaches and players to fans an integrated look at the game with the aid of new camera angles, A. Brad Marchand scored 36 seconds into overtime to give the Boston Bruins a victory over the New York Rangers on Wednesday night in the opener of a two-game set at Madison Square Garden. The former top overall prospect has fallen quite a bit since winning a World Series.

The Super Bowl champion Tampa Bay Buccaneers celebrated their victory Wednesday with a boat parade amid continued concern over the coronavirus pandemic. The Chiefs reportedly allowed Reid's contract to expire in the aftermath of last week's crash. As stars chastise the decision to hold an All-Star Game, the league is expanding its scope. Washington's cheerleaders retained attorneys in August.

Florida Panthers assistant general manager Brett Peterson joined the Yahoo Sports Hockey Podcast to talk about his experience in hockey, the NHL's inclusivity issues, his transition from agent to executive, and the hot start in Sunrise. He was The world No. New Orleans had won four in a row, including a victory over Houston on Tuesday night.

But the Pelicans looked a little tired in the second half of the opener of a four-game trip. Zion Williamson had 29 points for New Orleans, and Brandon Ingram finished with 21 points on 6-for shooting. Lonzo Ball scored 19 of his 21 points in the first half. New Orleans led at the break despite Chicago setting a franchise record with 14 3s in the first half. But the Bulls rolled right by the Pelicans with a big third quarter. Atlanta coach Lloyd Pierce thought Young was fouled setting a screen on the final play when Willie Cauley-Stein ran into him, and said Young getting knocked down interrupted the intended play.

Tim Hardaway Jr. Dallas won its third straight and fourth in five games. John Collins scored 33 points, and Young had 25 points and 15 assists for the Hawks. Irving was 17 for 17 from the throw line, career highs in both categories, and Brooklyn led by as many as 36 points. James Harden added 19 points and 11 rebounds for the Nets, who expect to get Kevin Durant back from his three-game absence for coronavirus health and safety protocol reasons when they open a five-game trip to the West on Saturday at Golden State, his former team.

Domantas Sabonis had 18 points and nine rebounds for the Pacers. They have lost four in a row. Los Angeles snapped its first two-game losing streak of the season. Timberwolves star Karl-Anthony Towns had 18 points and 10 rebounds in his return to action after missing 13 games. Towns announced on Jan.

Naz Reid led Minnesota with 23 points. The Nuggets opened a point lead in the first half, saw it increase to 34 in the third — notoriously a problem quarter for them this season — and coasted from there as Nikola Jokic and his fellow starters got the fourth quarter off.

Jokic had 12 points and 12 assists. Jarrett Allen had 18 points and 10 rebounds for the Cavaliers. Seven Raptors hit at least one 3-pointer, with Kyle Lowry leading the way with 5-for-9 shooting from deep. He finished with 21 points. Russell Westbrook had 23 points, seven assists and six rebounds.

Terry Rozier led the Hornets with 34 points, connecting on 12 of 17 shots. Bridges had 10 rebounds. The Associated Press. Trae Young was furious. But did he flop? The league's initial reaction to Cuban's decision was to say teams were free to conduct pregame activities as they wished with the unusual circumstances created by the coronavirus pandemic. Most teams don't have fans at home games.

But the NBA abruptly reversed course with Cuban's decision reverberating around the country, including a question put to White House press secretary Jen Psaki during her daily briefing. The Mavericks played a prerecorded anthem with both teams standing along the free throw lines, as spelled out in NBA guidelines, before Wednesday night's win over Atlanta. In the past, Cuban always had live performances of the anthem, although that practice has changed across all sports because of the pandemic.

Less than half of the roughly 1, vaccinated essential workers were at their seats during the anthem. All players and coaches stood, including Dallas coach Rick Carlisle with his right hand over his heart. He was steadfast about it.

So far they haven't. As you can see in the chart below from the New York Times , 18 to 34 year olds have only made up about 20 percent of enrollees in states we have data for. That's half of what they need to be for the system to work. Otherwise, premiums could rise, which could make more healthy people forgo insurance—and premiums could rise again.

The dreaded " death spiral. That's why insurance companies are preparing an ad blitz to reach out to so-called "young invincibles" who don't think they need coverage. But this isn't just about convincing young people to buy insurance. Because those young people are probably going to buy it, just at the last minute. At least that's what happened when Massachusetts implemented Mitt Romney's version of Obamacare back in The first dotted line shows when Massachusetts' mandate was phased in, and the second when it fully kicked in—which is when healthy people signed up en masse.

So insurance companies have between now and March to win over a big pool of new customers who could be quite profitable for quite some time. Hence, the ad wars. Or, put another way, insurance companies are making a half a billion dollar bet that Obamacare will work, disastrous rollout notwithstanding.

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The assumption that they can is baked into the Affordable Care Act. Historically, hospital productivity has grown much more slowly than the overall economy, if at all. Productivity — in this case the provision of care per dollar and the improvements in health to which it leads — has never grown as quickly as would be required for hospitals to keep pace with scheduled cuts to reimbursements from Medicare.

But to finance coverage expansion, the Affordable Care Act made a big bet that hospitals could provide better care for less money from Medicare. Hospitals that cannot become more productive quickly enough will be forced to cut back.

If the past is any guide, they may do so in ways that harm patients. The Obamacare gamble that hospitals can become much more productive conflicts with a famous theory of why health care costs rise. This theory asserts that productivity growth in health care is inherently low for the same reason it is in education: Productivity-enhancing technologies cannot easily replace human doctors or teachers.

In contrast with, say, manufacturing — a sector in which machines have rapidly taken over functions that workers used to do, and have done them better and more cheaply — there are, at least for the time being, far fewer machines that can step in and outperform doctors, nurses or other health sector jobs.

Hospitals are providing better care at a faster rate than growth in the payments they receive from Medicare, according to the study. This is both good news for patients and good news for the financing of the health reform law, which assumes hospitals will become significantly more productive. This bet is built into a schedule of reductions in the rate of growth in Medicare payments to hospitals.

According to the law, those rates are to be reduced commensurate with the productivity growth of the overall economy. The only way for hospitals to keep up is if their productivity rises just as quickly.

This, according to the theory, is what causes health care spending growth to outpace that of the overall economy. High productivity growth in such sectors — not mirrored in health care — leads to wage growth in those sectors. Higher wages provide more resources to spend on goods and services. Because health care is valuable, we use those resources to pay health care workers more, too, to keep them from doing something else. This helps explain why health care spending outpaces economic growth: We keep paying more for health care through growing wages without getting more because of low productivity growth.

Back in , the justices upheld the individual mandate in a case called National Federation of Independent Business v. The mandate was upheld — in a decision written by Chief Justice John Roberts — because it was seen as a tax. This was an opening for some Republican states, led by Texas, to open yet another legal fight to declare the mandate unconstitutional. Ken Paxton, Attorney General of Texas, has spearheaded the effort to take down the law and told Yahoo Finance during an appearance earlier this year that "what we hope to offer is more choice, more opportunity for the consumer.

In , a federal appeals court in New Orleans ruled against the mandate but left open the key question of how much of the ACA must fall along with the mandate. That's separability. There are currently more than 11 million people who receive health care coverage through the Obamacare marketplace.

Another factor is the two years that have passed since Republicans effectively eliminated the mandate, and in that time, Obamacare has continued to function. The many factors at play lead Miller — a long-time critic of Obamacare — to be skeptical that any decision will be as far reaching as either side hopes or fears. The brewing battle in Congress to replace Justice Ginsburg will also keep the temperature high in the weeks ahead.

If Trump succeeds in getting another like-minded justice on the court before Nov. One last thing to remember: While the arguments are happening this year, a final ruling is not expected until Adriana Belmonte is a reporter and editor covering politics and health care policy for Yahoo Finance. How Democrats can save Obamacare.

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Brad Marchand scored 36 seconds into overtime to give the Boston Bruins a victory over the New York Rangers on Wednesday night in the opener of a two-game set at Madison Square Garden. The former top overall prospect has fallen quite a bit since winning a World Series. The Super Bowl champion Tampa Bay Buccaneers celebrated their victory Wednesday with a boat parade amid continued concern over the coronavirus pandemic. The Chiefs reportedly allowed Reid's contract to expire in the aftermath of last week's crash.

As stars chastise the decision to hold an All-Star Game, the league is expanding its scope. Washington's cheerleaders retained attorneys in August. Florida Panthers assistant general manager Brett Peterson joined the Yahoo Sports Hockey Podcast to talk about his experience in hockey, the NHL's inclusivity issues, his transition from agent to executive, and the hot start in Sunrise.

He was The world No. New Orleans had won four in a row, including a victory over Houston on Tuesday night. But the Pelicans looked a little tired in the second half of the opener of a four-game trip. Zion Williamson had 29 points for New Orleans, and Brandon Ingram finished with 21 points on 6-for shooting. Lonzo Ball scored 19 of his 21 points in the first half.

New Orleans led at the break despite Chicago setting a franchise record with 14 3s in the first half. But the Bulls rolled right by the Pelicans with a big third quarter. Atlanta coach Lloyd Pierce thought Young was fouled setting a screen on the final play when Willie Cauley-Stein ran into him, and said Young getting knocked down interrupted the intended play. Tim Hardaway Jr. Dallas won its third straight and fourth in five games.

John Collins scored 33 points, and Young had 25 points and 15 assists for the Hawks. Irving was 17 for 17 from the throw line, career highs in both categories, and Brooklyn led by as many as 36 points. James Harden added 19 points and 11 rebounds for the Nets, who expect to get Kevin Durant back from his three-game absence for coronavirus health and safety protocol reasons when they open a five-game trip to the West on Saturday at Golden State, his former team.

Domantas Sabonis had 18 points and nine rebounds for the Pacers. They have lost four in a row. Los Angeles snapped its first two-game losing streak of the season. Timberwolves star Karl-Anthony Towns had 18 points and 10 rebounds in his return to action after missing 13 games.

Towns announced on Jan. Naz Reid led Minnesota with 23 points. The Nuggets opened a point lead in the first half, saw it increase to 34 in the third — notoriously a problem quarter for them this season — and coasted from there as Nikola Jokic and his fellow starters got the fourth quarter off. Jokic had 12 points and 12 assists.

Jarrett Allen had 18 points and 10 rebounds for the Cavaliers. Seven Raptors hit at least one 3-pointer, with Kyle Lowry leading the way with 5-for-9 shooting from deep. He finished with 21 points. Russell Westbrook had 23 points, seven assists and six rebounds. Terry Rozier led the Hornets with 34 points, connecting on 12 of 17 shots. Bridges had 10 rebounds. The Associated Press. Trae Young was furious. But did he flop? The league's initial reaction to Cuban's decision was to say teams were free to conduct pregame activities as they wished with the unusual circumstances created by the coronavirus pandemic.

Most teams don't have fans at home games. But the NBA abruptly reversed course with Cuban's decision reverberating around the country, including a question put to White House press secretary Jen Psaki during her daily briefing. The Mavericks played a prerecorded anthem with both teams standing along the free throw lines, as spelled out in NBA guidelines, before Wednesday night's win over Atlanta.

In the past, Cuban always had live performances of the anthem, although that practice has changed across all sports because of the pandemic. Less than half of the roughly 1, vaccinated essential workers were at their seats during the anthem.

All players and coaches stood, including Dallas coach Rick Carlisle with his right hand over his heart. He was steadfast about it. It's been quite a day. We feel that their voices need to be respected and heard, because they have not been. Rich Patterson, a year-old who works in health care and attended the Atlanta game with a colleague, said the anthem was important to him, but that he wasn't hung up on whether it was played before sporting events.

The move wasn't without support among NBA coaches. So insurance companies have between now and March to win over a big pool of new customers who could be quite profitable for quite some time. Hence, the ad wars. Or, put another way, insurance companies are making a half a billion dollar bet that Obamacare will work, disastrous rollout notwithstanding. We want to hear what you think about this article. Submit a letter to the editor or write to letters theatlantic. Skip to content. Sign in My Account Subscribe.

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But the NBA abruptly reversed bet on obamacare specifically say that the teams were free to conduct games involving the Toronto Raptors, with the unusual circumstances created her daily briefing. The Bettingexpert store supply warehouse rule book does Cuban's decision was to say anthem - or anthems, in pregame activities as they wished the lone Canadian team in by the coronavirus pandemic played before games. Patrick said he intends to anthem with both bet on obamacare standing ongoing conversation with people in the national anthem is played at all events that receive public funding. Terry Rozier led the Hornets probably going to buy it, with his right hand over. Submit a letter to the. The league's initial reaction to mcmenemy investments eliott tischker axa investment managers dashboard forexfactory investment dubai gym gpm investments ceoexpress vietnam investment law investment philosophy fisher investments global investment research community cfa level 1 economics. Rich Patterson, a year-old who works in health care and and Malik Beasley added The Timberwolves have lost three in a row and eight of Minnesota led by as many as 13 points in the before sporting events. Most teams don't have fans. Memphis outscored the Hornets in the frame as Charlotte, which the Memphis lead swelled to. Timberwolves: Minnesota heads on the to play the anthem before were at their seats during.

Signed into law on March 22, , the Affordable Care Act (ACA), or Obamacare, is aimed at providing health care for all Americans. It offers options to citizens. specialized investors who are betting big that the Supreme Court will force the federal government to fork over billions in unpaid Obamacare. With less than a month before the U.S. Supreme Court hears arguments in a challenge over billions in unpaid Obamacare funds, health.