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Showing posts with label Financial Services. Show all posts
Showing posts with label Financial Services. Show all posts

Wednesday, December 18, 2013

In Hollywood, Health Coverage Presents Unique Challenges

Today's post was shared by Kaiser Health News and comes from www.kaiserhealthnews.org


Inside the Fox Studios in Century City, crews are shooting the latest episodes of some of television’s biggest shows, including “Modern Family,” “How I Met Your Mother” and “Bones.” Just outside the lot, crew members on breaks are lining up at a mobile health clinic in a converted Winnebago, seeking treatment for both chronic diseases and common ailments.
The Hollywood film and television industry relies heavily on freelancers and independent contractors who are rarely offered health insurance from an employer. Throughout Southern California, producers, writers, actors, editors, camera operators and prop makers move from gig to gig and hold numerous jobs each year. Some get insurance through the industry’s unions – after paying hefty fees and dues and working enough hours on union jobs. Others pay for private policies – or simply go without.
The nation’s health law will offer financial help for those who buy policies through new insurance marketplaces and whose incomes are within the limits. But contract workers, freelancers and seasonal employees in a variety of industries will fall in and out of eligibility for subsidies, causing confusion and possible tax consequences at the end of the year.
Entertainment workers face an additional challenge on top of the constant job turnover and temporary nature of their employment. Crew members often work long hours rigging lights, moving gear and building sets, which can...
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Tuesday, November 30, 2010

AIG -The Inside Job




Advertised as 'The movie that took over $20 Trillion dollars to make", Inside Job, is now on the screens of theaters throughout the nation. The movie's premise is that the recent,  systemic,   financial collapse was founded upon AIG's  feared inability to payout on the claims for failed sophisticated financial instruments that AIG insured. The resulting consequences of the AIG bailout  became a vehicle to shelter and fund Wall Street at enormous taxpayer expense.

The lack of criminal accountability for AIG, and the insurance industry's inadequate disclosures, poor ratings and reserves, bad investments and resulting political cover, left the industry destitute and unable to meet its fiduciary obligations to its insureds. Despite all of the bad news, AIG continued to pay bonuses to its executives, scheduled junkets and act as a conduit for payments. The movie questions who is actually regulating the financial/insurance industry, and whether the industry has now become so fused with American politics that Wall Street is insulated no  matter which political party is at the helm.

Workers' Compensation insurance coverage is premised on the legislative intent to provide remedial coverage and summary benefits. When major players in the insurance industry jeopardize that coverage, then the result impacts the ability of the system to function and causes lingering inability to pay. Government regulators have the moral, if not the legal obligation, to protect the system.

Tuesday, September 28, 2010

Atlantic Mutual Insurance Co Placed into Rehabilitation

The NJ Division of Workers' Compensation has responded to an Order of Rehabilitation of Atlantic Mutual Insurance Company and Centennial Insurance Company entered by the New York Supreme Court entered on September 14, 2010. The NJ Division of Workers' Compensation has directed that 120 active cases now pending are stayed until further notice.

For over 3 decades the Law Offices of Jon L. Gelman 1.973.696.7900  jon@gelmans.com have been representing injured workers and their families who have suffered work related accident and injuries.

Wednesday, September 1, 2010

State Colleges Seek to Privatize Workers' Compensation Coverage

NJ State colleges and universities want to opt out of the costly NJ State claims network and are seeking to establish a joint fund to cut costs. Yesterday S2067 advanced in he NJ Legislature and was transfered to the Senate Budget and Appropriations Committee. 

Senate Bill No. 2067 of 2010 authorizes two or more State colleges or universities to form a State college risk management group and to participate in joint liability funds, risk management programs, and related services provided by the group, subject to certain regulatory oversight by the State Treasurer. Currently, the Division of Risk Management in the Department of the Treasury administers certain insurance coverage programs for various agencies of State government, including State colleges. This bill would modify that authority in order to allow State colleges to form their own risk management groups and joint liability funds to provide that coverage.

For over 3 decades the Law Offices of Jon L. Gelman 1.973.696.7900 jon@gelmans.com  have been representing injured workers and their families who have suffered occupational exposures.

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