On Jan. 5, The New York Times ran an article about the anguished outcry of Harvard University’s faculty over the imposition of copays and deductibles for their health care coverage. Even with these changes, coverage for Harvard’s employees remains significantly richer than that typically in the marketplace.
Tom Friedman, author of “The World is Flat,” told us in 2005 about a fast-moving economic platform, accelerated by information technology advances, which created an environment in which it’s easy to source talent and do business globally.
The Vermont single-payer initiative, which was cited both locally and nationally as a transformational model for a lower-cost health care system, collapsed in the latter part of December. It couldn’t work because it tried to replace the employer-based system – one in which a majority of consumers receive health insurance from their employer – with an impractical proposal that would have required $2.5 billion in additional funding (in fiscal 2012, the state had only $2.7 billion in total tax revenue).
For decades now, finance professors, financial journalists, Jack Bogle and Vanguard have been trying to hammer it into your head: Active management is bad. Don’t pick stocks. Diversify. Buy low-cost index funds and exchange-traded funds.
It’s the start of a new year – a time for resolving to eat less, exercise more, work harder, give more, get your financial situation in order, make a long-delayed life change. Why do we make such resolutions?