By Lewis Krauskopf and Svea Herbst-Bayliss
(Reuters) – Tobias Meyer, Sotheby’s (BID.N: Quote, Profile, Research, Stock Buzz) chief auctioneer, is leaving the auction house, the company said on Friday, just a week after Sotheby’s recorded the highest sale in its history.
The departure of Meyer, the worldwide head of contemporary art, comes as Sotheby’s is being pressured by activist investors including Daniel Loeb to improve its business strategies and earn more money for shareholders.
(Reuters) – California’s new health exchange will not allow canceled policies to extend past the end of the year, defying President Barack Obama’s effort to repair his pledge that people can keep their current plans.
The announcement on Thursday by the most populous U.S. state, an early supporter of Obama’s Affordable Care Act, marked the latest state to reject the president’s fix, which he announced last week after taking political fire for not keeping his promise to allow people to keep their plans if they like them.
WASHINGTON (Reuters) – State insurance commissioners told President Barack Obama on Wednesday that his effort to stem a wave of insurance cancellations caused by his signature healthcare law could lead to higher premiums.
Obama met with representatives from the National Association of Insurance Commissioners to discuss the “fix” he came up with last week to calm the uproar surrounding millions of cancellation notices sent to holders of individual health insurance policies no longer legal under the healthcare law, known as Obamacare.
(Reuters) – More older Americans than young adults so far have signed up for new insurance coverage under the state marketplaces created by President Barack Obama’s healthcare law, according to early data from four states reporting details on their enrollment.
The age balance is being closely watched to determine the financial stability of the insurance market created by the Affordable Care Act, as the participation of younger people is needed to offset costs for sicker beneficiaries. To ensure that younger people sign up, the law requires individuals to pay a penalty if they do not have health coverage.
NORWALK, Connecticut (Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) plans to spin off part of its North American retail finance business next year as a separately traded public company in a long-term attempt to generate less profit from the volatile financial sector and more from manufacturing.
As part of the move, which Chief Executive Jeff Immelt hinted at earlier this year, GE said on Friday it will float about 20 percent of the retail finance unit in the initial public offering.
NEW YORK, Nov 14 (Reuters) – Insurers and state regulators
say they fear that President Barack Obama’s “fix” for policies
canceled under his healthcare reform law could create new
problems and lead to an increase in premiums.
Facing pressure by lawmakers from his Democratic Party,
Obama said on Thursday that insurers could extend by a year
policies that were due to be canceled in 2014 because they do
not comply with higher standards of benefits and other
requirements under the 2010 law, commonly called Obamacare.
(Reuters) – A new push to sign up Americans for insurance under President Barack Obama’s healthcare law will begin in December, when the government’s faulty enrollment website is expected to work better, an advocacy group leading the campaign said on Tuesday.
Technical problems with the HealthCare.Gov website since it opened October 1 has hindered enrollment and undercut momentum for organizations such as Enroll America, which has led efforts to explain benefits to consumers in 10 states, including Florida, Texas and Ohio.
(Reuters) – Uninsured Americans are showing more interest in the coverage offered under President Barack Obama’s healthcare law despite technical problems that have hindered enrollment through a government website, according to a Reuters/Ipsos poll.
The glitches have crippled HealthCare.gov, the new online insurance marketplace meant to serve people in 36 states, frustrating millions of would-be applicants since it opened for enrollment on October 1.
Nov 6 (Reuters) – Uninsured Americans are showing more
interest in the coverage offered under President Barack Obama’s
healthcare law despite technical problems that have hindered
enrollment through a government website, according to a
The glitches have crippled HealthCare.gov, the new online
insurance marketplace meant to serve people in 36 states,
frustrating millions of would-be applicants since it opened for
enrollment on Oct. 1.
(Reuters) – Health insurer Blue Shield of California said on Tuesday it will delay policy cancellations for 113,000 customers who were due to lose coverage at the end of the year as a result of new requirements from President Barack Obama’s healthcare law.
Under pressure from California Insurance Commissioner Dave Jones, Blue Shield agreed to allow customers on the individual insurance market to receive a 90-day extension of their plans.