Most Tennesseans get ObamaCare credit
Among the Tennesseans who have signed up or been re-enrolled for one of the health care exchanges offered under the Affordable Care Act this year, 83 percent have qualified for a tax credit with an average value of $301 per month, or about 73 percent of the pre-tax credit premium, the government said Thursday.
With just over a week left to go to sign up for one of the individual health care plans to get coverage in 2016, the U.S. Department of Health and Human Services said Thursday that most of the low- to middle-income persons signing up for the plans are able to do so for $75 or less in monthly premiums, due to subsidies offered by the federal government.
“There are just 10 days left until the end of Open Enrollment for 2016 coverage and Tennessee consumers should know that prices are affordable and it’s not too late to shop for the best plan,” HHS Secretary Sylvia M. Burwell said in a statement. “People coming to the Marketplace for coverage are active, engaged and shopping to save money.”
In Tennessee 58 percent of people who actively re-enrolled in a Marketplace plan for 2016 switched to a different plan, saving an average of $52 per month ($624 per year) after tax credits.
Mortgage rates fall for 3rd straight week
Average long-term U.S. mortgage rates fell this week for a third straight week as global stock markets continued to be pounded by falling oil prices and worries over economic growth.
Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.81 percent from 3.92 percent a week earlier. That was its lowest level in three months. The rate has increased from its 3.63 percent average a year ago but remains well below its historic average of 6 percent.
The average rate on 15-year fixed-rate mortgages dipped to 3.10 percent from 3.19 percent.
Erlanger Hospital is seen from the new library’s balcony Tuesday, Dec. 9, 2014, on the University of Tennessee at Chattanooga campus in Chattanooga, Tenn. Charles “Rusty” Adcock , a family physician in South Pittsburg Tenn., since 1980, this week joined the UT Erlanger Primary Care network for physicians.
Dr. Adcock, along with Dr. Martha Ziegler and Dr. Cari Beth Page, will continue to accept and treat patients at 520 East 12th Street in South Pittsburg, Monday through Friday, 8 a.m. to 4 p.m.
“We are delighted Dr. Adcock’s South Pittsburgh practice has joined our growing network of Erlanger physicians,” Erlanger President Kevin M. Spiegel said.
Dr. Adcock earned his medical degree from the UT College of Medicine (UTCOM) in Memphis and completed his residency program at UTCOM Chattanooga, based at Erlanger. Dr. Martha Ziegler joined The Clinic in 2006 after completing a family medicine residency at the UTCOM Chattanooga, based at Erlanger. She received a medical degree from the James H. Quillen College of Medicine at East Tennessee State University.
Jobless claims rise to six-month high
The number of people seeking unemployment benefits rose last week to the highest level since July, though applications remained at historically low levels.
The Labor Department says weekly applications for jobless aid rose 10,000 to a seasonally adjusted 293,000. The four-week average, a less volatile measure, increased to 285,000, the highest since April.
The unemployment benefits figures are volatile after the winter holidays, when many temporary retail employees are laid off. The government adjusts the figures to reflect those seasonal trends, but isn’t always able to do so perfectly.
Global financial markets have plunged since the year began over fears that world economic growth is slowing. Applications for unemployment aid are a proxy for layoffs and can indicate whether businesses are sufficiently nervous about the economy to cut jobs.