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President-elect Donald Trump’s choice to run the sprawling government agency that administers Medicare, Medicaid, and the Affordable Care Act marketplace — celebrity doctor Mehmet Oz — recently held broad investments in health care, tech, and food companies that would pose significant conflicts of interest. Oz’s holdings, some shared with family, included a stake in UnitedHealth Group worth as much as $600,000, as well as shares of pharmaceutical firms and tech companies with business in the health care sector, such as Amazon. Collectively, Oz’s investments total tens of millions of dollars, according to financial disclosures he filed during his failed 2022 run for a Pennsylvania U.S. Senate seat. Trump said Tuesday he would nominate Oz as administrator of the Centers for Medicare & Medicaid Services. The agency’s scope is huge: CMS oversees coverage for more than 160 million Americans, nearly half the population. Medicare alone accounts for approximately $1 trillion in annual spending, with over 67 million enrollees. UnitedHealth Group is one of the largest health care companies in the nation and arguably the most important business partner of CMS, through which it is the leading provider of commercial health plans available to Medicare beneficiaries. UnitedHealth also offers managed-care plans under Medicaid, the joint state-federal program for low-income people, and sells plans on government-run marketplaces set up via the Affordable Care Act. Oz also had smaller stakes in CVS Health, which now includes the insurer Aetna, and in the insurer Cigna. It’s not clear if Oz, a heart surgeon by training, still holds investments in health care companies, or if he would divest his shares or otherwise seek to mitigate conflicts of interest should he be confirmed by the Senate. Reached by phone on Wednesday, he said he was in a Zoom meeting and declined to comment. An assistant did not reply to an email message with detailed questions. “It’s obvious that over the years he’s cultivated an interest in the pharmaceutical industry and the insurance industry,” said Peter Lurie, president of the Center for Science in the Public Interest, a watchdog group. “That raises a question of whether he can be trusted to act on behalf of the American people.” (The publisher of KFF Health News, David Rousseau, is on the CSPI board .) Oz used his TikTok page on multiple occasions in November to praise Trump and Robert F. Kennedy Jr., including their efforts to take on the “illness-industrial complex,” and he slammed “so-called experts like the big medical societies” for dishing out what he called bad nutritional advice. Oz’s positions on health policy have been chameleonic; in 2010, he cut an ad urging Californians to sign up for insurance under President Barack Obama’s Affordable Care Act, telling viewers they had a “historic opportunity.” Oz’s 2022 financial disclosures show that the television star invested a substantial part of his wealth in health care and food firms. Were he confirmed to run CMS, his job would involve interacting with giants of the industry that have contributed to his wealth. Given the breadth of his investments, it would be difficult for Oz to recuse himself from matters affecting his assets, if he still holds them. “He could spend his time in a rocking chair” if that happened, Lurie said. In the past, nominees for government positions with similar potential conflicts of interest have chosen to sell the assets or otherwise divest themselves. For instance, Treasury Secretary Janet Yellen and Attorney General Merrick Garland agreed to divest their holdings in relevant, publicly traded companies when they joined the Biden administration. Trump, however, declined in his first term to relinquish control of his own companies and other assets while in office, and he isn’t expected to do so in his second term. He has not publicly indicated concern about his subordinates’ financial holdings. CMS’ main job is to administer Medicare. About half of new enrollees now choose Medicare Advantage, in which commercial insurers provide their health coverage, instead of the traditional, government-run program, according to an analysis from KFF, a health information nonprofit that includes KFF Health News. Proponents of Medicare Advantage say the private plans offer more compelling services than the government and better manage the costs of care. Critics note that Medicare Advantage plans have a long history of costing taxpayers more than the traditional program. UnitedHealth, CVS, and Cigna are all substantial players in the Medicare Advantage market. It’s not always a good relationship with the government. The Department of Justice filed a 2017 complaint against UnitedHealth alleging the company used false information to inflate charges to the government. The case is ongoing. Oz is an enthusiastic proponent of Medicare Advantage. In 2020, he proposed offering Medicare Advantage to all; during his Senate run, he offered a more general pledge to expand those plans. After Trump announced Oz’s nomination for CMS, Jeffrey Singer, a senior fellow at the libertarian-leaning Cato Institute, said he was “uncertain about Dr. Oz’s familiarity with health care financing and economics.” Singer said Oz’s Medicare Advantage proposal could require large new taxes — perhaps a 20% payroll tax — to implement. Oz has gotten a mixed reception from elsewhere in Washington. Pennsylvania Sen. John Fetterman, the Democrat who defeated Oz in 2022, signaled he’d potentially support his appointment to CMS. “If Dr. Oz is about protecting and preserving Medicare and Medicaid, I’m voting for the dude,” he said on the social platform X. Oz’s investments in companies doing business with the federal government don’t end with big insurers. He and his family also hold hospital stocks, according to his 2022 disclosure, as well as a stake in Amazon worth as much as nearly $2.4 million. (Candidates for federal office are required to disclose a broad range of values for their holdings, not a specific figure.) Amazon operates an internet pharmacy, and the company announced in June that its subscription service is available to Medicare enrollees. It also owns a primary care service , One Medical, that accepts Medicare and “select” Medicare Advantage plans. Oz was also directly invested in several large pharmaceutical companies and, through investments in venture capital funds, indirectly invested in other biotech and vaccine firms. Big Pharma has been a frequent target of criticism and sometimes conspiracy theories from Trump and his allies. Kennedy, whom Trump has said he’ll nominate to be Health and Human Services secretary, is a longtime anti-vaccine activist. During the Biden administration, Congress gave Medicare authority to negotiate with drug companies over their prices. CMS initially selected 10 drugs. Those drugs collectively accounted for $50.5 billion in spending between June 1, 2022, and May 31, 2023, under Medicare’s Part D prescription drug benefit. At least four of those 10 medications are manufactured by companies in which Oz held stock, worth as much as about $50,000. Oz may gain or lose financially from other Trump administration proposals. For example, as of 2022, Oz held investments worth as much as $6 million in fertility treatment providers. To counter fears that politicians who oppose abortion would ban in vitro fertilization, Trump floated during his campaign making in vitro fertilization treatment free. It’s unclear whether the government would pay for the services. In his TikTok videos from earlier in November, Oz echoed attacks on the food industry by Kennedy and other figures in his “Make America Healthy Again” movement. They blame processed foods and underregulation of the industry for the poor health of many Americans, concerns shared by many Democrats and more mainstream experts. But in 2022, Oz owned stakes worth as much as $80,000 in Domino’s Pizza, Pepsi, and US Foods, as well as more substantial investments in other parts of the food chain, including cattle; Oz reported investments worth as much as $5.5 million in a farm and livestock, as well as a stake in a dairy-free milk startup. He was also indirectly invested in the restaurant chain Epic Burger. One of his largest investments was in the Pennsylvania-based convenience store chain Wawa, which sells fast food and all manner of ultra-processed snacks. Oz and his wife reported a stake in the company, beloved by many Pennsylvanians, worth as much as $30 million. ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.Bengaluru, Dec 28 (PTI) Karnataka Minister Priyank Kharge on Saturday said he is in favour of an independent and free probe by an agency under the state's Home Department into the alleged suicide of a contractor in Bidar earlier this week. The contractor left behind a seven-page note in which he made allegations against a person, said to be his associate. Accusing the BJP of politicising the issue, as it has sought his removal from the ministry and his arrest in connection with the case, the Rural Development and Panchayat Raj Minister clarified that neither he, nor his department, nor the government is involved in any way. "While the contractor is suggesting one thing, the accused have also made complaints regarding another aspect of the entire incident. I’m very clear in saying that there should be an independent and free probe. I have personally requested the Home Minister for an independent investigative agency within the Home Department to investigate the matter," Kharge said. Speaking to reporters, he said that it is quite natural for the BJP to believe they have found something against him in the case, and pointed out that the party has been trying to get his resignation on frivolous grounds for a year. "I’m making it clear that neither I, nor my department, nor the government is involved in all these activities," he added. Sachin Monappa Panchal, a 26-year-old contractor, ended his life by falling under a train on Thursday, leaving behind a suicide note alleging that Raju Kapanur, a close associate of Kharge, had issued death threats demanding Rs 1 crore for awarding a contract. The note also mentioned the names of seven others who were accused of cheating by not awarding him a contract, despite taking a Rs 15 lakh bribe. The contractor alleged that they threatened to kill him if he failed to pay the Rs 1 crore. Hitting out at Kharge and the Congress government over the case, Leader of Opposition in the Legislative Council Chalavadi Narayanaswamy on Saturday demanded that Kharge be removed from his ministerial post and arrested immediately. He also called for Kharge to fully cooperate with the investigation, warning that BJP leaders and workers would launch a fierce agitation if he did not. Responding to a question about the BJP’s demand for his arrest, Kharge questioned "On what grounds?" and claimed the opposition party doesn’t understand the law. "BJP does not understand the law. Am I an accused? Eight people have been named as accused. Does the BJP know what the law of the land is? On what basis are they asking for my arrest? Is my name there for abetment to suicide? These people (BJP) just want to do politics. Their intention is very clear—they want to hide their internal problems," he said. Claiming that Priyank Kharge has become BJP leaders' "favourite dish on their menu," and hence they repeatedly target him, the Minister said it is because of his strong ideological stance, which goes against the BJP's political agenda. "So it is quite natural that they always blame me. Tell me one charge that they have been able to prove against me. They don’t come with facts, documents, and proof. While showing me one thing that I have accused the BJP of without documents or proof. They always do hit-and-run, this is also a hit-and-run. I dare them to prove it," he said. Noting that eight people have been named as accused in the case, Kharge said that one of them is a Congress Kalaburagi corporator's brother. "It is a fact that I cannot deny, but that doesn’t mean that I’m involved." "The accused are saying that there was a business transaction and they wanted money for the Earnest Money Deposit (EMD). There was a transfer of money from the bank, which is a legal transaction, and there is no ambiguity about the said money transfer. While the contractor has accused eight people, including his seniors in the private firm, of failing to get him some contracts... let the truth come out in the investigation," he said. Responding to the BJP’s demand for his resignation, Kharge hit back, saying that he was not here to cater to the BJP's whims and fancies and that they are the last people who should lecture on corruption. Everybody knows what they (BJP) did. How many contractors committed suicide during their tenure, naming the then Ministers and MLAs?" he said. BJP leaders, including Narayanaswamy, have alleged that Kalaburagi district has become a "republic of Kalaburagi," where the administration and police function only according to what Kharge says. Responding to this, the Minister said, "Yes, it is a republic of Kalaburagi for development, unlike the Ballari republic that the BJP ran while they were in power." Kharge hails from Kalaburagi and serves as the district in-charge Minister there. To a question about Congress demanding the resignation of K S Eshwarappa as a Minister when BJP was in power following a contractor’s suicide with a death note, Kharge said, "The Eshwarappa case is entirely different from this suicide case. In that case, Eshwarappa was himself an accused. He was named in that case...." (This story has not been edited by THE WEEK and is auto-generated from PTI)
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A woman has been urged not to co-sign her sister's mortgage application. In a viral Reddit post with 13,000 upvotes at the time of writing, user fancyapanda explained that she has been saving for years for her own house. "I work in software, so I make decent money, but it still takes forever to build up a good down payment," said the 28-year-old. "Meanwhile, my younger sister (25F) is in grad school with barely any credit." According to data firm Statista , obtaining a mortgage loan in the United States has become increasingly difficult. Young adults are the most affected, with about 25 percent of respondents aged 18 to 34 saying it would be easy to get a mortgage as of August 2024. "Except for the oldest generation, respondents of all age groups were overall more positive about their chances of being approved for home financing before the second half of 2021, when the monetary policy started tightening and interest rates rising," wrote Statista. In some cases, lenders may require a guarantor to co-sign a loan, taking on legal responsibility if the borrower can't repay it. This means that if the homeowner fails to make a payment, the co-signer will be responsible for the debt. For people with bad credit, like the younger sister, co-signing may be the only way to get mortgage approval. The user wrote: "Our parents (both mid-50s) found a house near them and decided she needs it. They made an offer— without telling me —and now the deal only goes through if I co-sign. "The problem? I had no clue they'd do this. My parents basically dropped a bomb: 'You have the best credit score—co-sign so your sister can get the house!' They also hinted I should chip in for the down payment because 'you've got the money.' "If I co-sign, I'll be on the hook if my sister can't pay. She's still in school, has debt, and zero backup plan. The bank might also reject my future mortgage application since they'll see I'm already tied to another loan. But my parents say I'm 'selfish' and 'forgetting family values.' My sister's calling me a monster for leaving her 'stranded,' and my mom threatened to cut off any future financial help (like wedding money) if I don't help right now." She concluded the post by stating that she feels guilty. She later updated the December 26 post to reveal that she was adopted as her parents were struggling to conceive, but a few years later, they had a "miracle baby." "Ever since, it's felt like my role in the family became 'the older, adopted one,' while she was the golden child who could do no wrong. Growing up, I was expected to pitch in more, be more responsible, and generally look out for my sister," she wrote. Expert Insight Newsweek previously spoke to Jennifer Kelman , a family therapist, licensed clinical social worker, and parenting expert at JustAnswer, an online Q&A service connecting users with experts. She said: "Money conflicts with family members are a common experience and can cause a lot of tension if not addressed properly or in advance. Often, if one family member has a better financial situation, it may be seen that they should be responsible for the bulk of the cost of activities, vacations, etc. "This alone can cause tension because the family members that may have a better financial situation may feel taken advantage of, while the other family members may feel that since they can afford more, they should help out." To resolve money arguments, Kelman suggests sitting in a quiet moment and communicating your own feelings around the issue. Reddit Reacts So far, the popular post has over 4,000 comments. "Absolutely do NOT co-sign. NTA if you refuse. Let your mom not pay for the wedding. If she's threatening now, she will again. In the end, she probably won't. But that's not the main reason not to co-sign. The main reason is there is a huge chance you will be in debt for a house that is not yours," said one comment with 10,000 upvotes. "If they can't co-sign on the house themselves, they have already blown their retirement. There is no wedding money; this is just more emotional manipulation," said another user. A third commenter wrote: "Never ever co-sign for anything for anyone. I don't care who they are. NTA for following basic common sense. Your parents' demands are ridiculously unreasonable." Newsweek reached out to u/fancyapanda for comment. We could not verify the details of the case. Do you have a monetary dilemma? Let us know via life@newsweek.com. We can ask experts for advice, and your story could be featured on Newsweek .
MITSUBISHI Power, a power solutions brand of Mitsubishi Heavy Industries Ltd. (MHI), welcomed The Right Honorable Datuk Patinggi Tan Sri Dr Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, Premier of Sarawak, to its Takasago Hydrogen Park in Hyogo Prefecture, Japan. This visit marks a pivotal step in strengthening ties between the hydrogen ambitions of Sarawak, Malaysia, and industry-leading hydrogen technologies from Mitsubishi Power. Register to read this story and more for free . Signing up for an account helps us improve your browsing experience. OR See our subscription options.
Notable quotes by Jimmy CarterMukesh Ambani gets richer by Rs 20,230 crore in just five days due to...A set of new requirements proposed by the US Department of Health and Human Services’ (HHS) Office for Civil Rights could bring healthcare organizations up to par with modern cybersecurity practices. The proposal , posted to the Federal Register on Friday, includes requirements for multifactor authentication, data encryption and routine scans for vulnerabilities and breaches. It would also make the use of anti-malware protection mandatory for systems handling sensitive information, along with network segmentation, the implementation of separate controls for data backup and recovery, and yearly audits to check for compliance. HHS also shared a fact sheet outlining the proposal, which would update the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Security Rule. A 60-day public comment period is expected to open soon. In a press briefing, US deputy national security advisor for cyber and emerging technology Anne Neuberger said the plan would cost $9 billion in the first year to execute, and $6 billion over the subsequent four years, Reuters reports. The proposal comes in light of a marked increase in large-scale breaches over the past few years. Just this year, the healthcare industry was hit by multiple major cyberattacks, including hacks into Ascension and UnitedHealth systems that caused disruptions at hospitals, doctors’ offices and pharmacies. “From 2018-2023, reports of large breaches increased by 102 percent, and the number of individuals affected by such breaches increased by 1002 percent, primarily because of increases in hacking and ransomware attacks,” according to the Office for Civil Rights . “In 2023, over 167 million individuals were affected by large breaches — a new record.”