Tuesday, March 30, 2010

Good News Tuesday
1. It looks like insurance companies are backing away from a loophole which might have allowed them to ignore health reform's demand for an immediate end to denying coverage to children with pre-existing conditions. Of course, it will depend on taking their word for it, but they now claim they will "comply" with principles laid out in Secretary Sebelius' explanation (still to come) of the bill's meaning.

The bad news on that is - if I understand correctly - they can still charge elevated premiums for children with pre-existing conditions. Discrimination of that sort will end in 2014, but they have to offer some form of coverage to children in the meantime, according to the Secretary's reading of the bill.

2. It looks like we taxpayers will make somewhere in the neighborhood of an $8 billion gain following the temporary takeover of a significant portion of Citigroup. Stock purchased by the government at around $1.50 two years ago will be sold this week. The price currently hovers just over $4/share. More than a double is pretty good - I should have "rescued" Citi in my portfolio as well.

3. And last but not least, we are finally smashing subatomic particles. Apparently, particle physicists around the world are rejoicing. Their advanced degrees have not turned out to be worthless after all.

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