Latest news with #U.S.DepartmentofHealthandHumanServices
Yahoo
14 hours ago
- Business
- Yahoo
'It's A Huge Problem,' Experts Urge Gen Xers And Millennials To Plan For Long-Term Care
The U.S. Department of Health and Human Services says that around 57% of Americans will need long-term care at some point Most households have grossly underestimated the potential cost of that long-term care, and aren't aware that they will have to pay out of pocket for much of it The total cost of long-term care can be significant, extending beyond $100,000 Long-term care costs can be significant, extending well beyond $100,000, but experts tell CNBC that most households aren't prepared to handle the expense. "People don't plan for it in advance," certified financial planner Carolyn McClanahan told the network. "It's a huge problem." A 2022 report by the U.S. Department of Health and Human Services and the Urban Institute says that 57% of Americans turning 65 will develop a disability that is serious enough to require long-term care. The average cost of this long-term care is $122,400, the report said. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — On average, families will pay for 37% of the total cost of this long-term care out of pocket, with the rest covered by insurance and public programs. "It's pretty clear [workers] don't have that amount of savings in retirement, that amount of savings in their checking or savings accounts, and the majority don't have long-term care insurance," Employee Benefit Research Institute strategist Bridget Bearden told CNBC. "So where is the money going to come from?" Costs for long-term care vary widely, depending on where you live. However, data collected by Genworth and CareScout put the national average for a home health aide at $6,483 per month and $5,900 for a spot in an assisted living facility. Trending: Maximize saving for your retirement and cut down on taxes: . Still, many people grossly underestimate how much long-term care could potentially cost them. A recent Employee Benefit Research Institute report found that "a significant proportion of future caregivers had not estimated LTC costs," and those who had expected them to remain under $50,000. Additionally, the report found that 43% of future caregivers expected Medicare to cover the costs of long-term care, and 29% expected Medicaid to foot the bill. Experts told CNBC that estimates like these are not realistic. Health insurance generally doesn't cover long-term care services, and Medicare only covers select aspects, they say. McClanahan told CNBC that Medicare typically covers skilled care for up to 100 days, which covers things like rehab or medicine administration, but will not cover the custodial care required for daily activities like bathing and for Medicaid, the largest payer of long-term care costs, not everyone will qualify. Most people who are eligible for these benefits come from low-income households. "You basically have to be destitute" for Medicaid to kick in, she said. "The challenge with long-term care costs is they're unpredictable," McClanahan told CNBC. "You don't always know when you'll get sick and need care." She advises Gen Xers and Millennials to begin planning for potential long-term care needs now. "When you think through it in advance, it keeps the decisions way more level-headed," she said. Read Next:'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'It's A Huge Problem,' Experts Urge Gen Xers And Millennials To Plan For Long-Term Care originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
20 hours ago
- Business
- Yahoo
Week-old MAHA report updated over citation of nonexistent studies
The U.S. Department of Health and Human Services has updated the much-anticipated Make America Healthy Again report on childhood illness that was released last week. The report cited fictitious studies and sometimes incorrectly summarized those that did exist. White House press secretary Karoline Leavitt said the report was being updated to address 'formatting issues' that led to the mistakes. She said she could not address questions about whether artificial intelligence was used to write the report. Some media outlets have suggested that could contribute to the errors. 'Minor citation and formatting errors have been corrected, but the substance of the MAHA report remains the same — a historic and transformative assessment by the federal government to understand the chronic disease epidemic afflicting our nation's children,' HHS spokesperson Emily Hilliard told news organization NOTUS in a statement. 'Under President Trump and Secretary Kennedy, our federal government is no longer ignoring this crisis, and it's time for the media to also focus on what matters.' It was the news organization NOTUS that first found some of the studies underpinning the report were not real. NOTUS reported Thursday that 'The Trump administration's 'Make America Healthy Again' report misinterprets some studies and cites others that don't exist, according to the listed authors.' In its assessment, NOTUS found seven sources that 'don't appear to exist at all,' including one on anxiety in adolescents that epidemiologist Katherine Keyes said she didn't write, though it is a topic she has researched. 'The citation refers to a study titled, 'Changes in mental health and substance abuse among U.S. adolescents during the COVID-19 pandemic,' along with a nonfunctional link to the study's digital object identifier. While the citation claims that the study appeared in the 12th issue of the 176th edition of the journal JAMA Pediatrics, that issue didn't include a study with that title," per NOTUS. Among the questionable citations were two studies that illustrated how direct-to-consumer drug ads lead to more prescriptions for attention deficit/hyperactivity disorder medications and antidepressants for children. Those also could not be found and the cited authors and journals disputed their existence. Per NOTUS, the lead author cited in one study on asthma, pediatric lung specialist Harold J. Farber, said he hadn't written it or ever worked with the other listed authors. 'He pointed to similar research he'd conducted, but said that even if the MAHA report cited that study correctly, its conclusions are 'clearly an overgeneralization' of the findings.' He added by email to NOTUS, 'It is a tremendous leap of faith to generalize from a study in one Medicaid managed care program in Texas using 2011 to 2015 data to national care patterns in 2025.' Another researcher said a study cited on the benefits of psychotherapy compared to medication for mental illness 'doesn't make sense,' as it never looked at psychotherapy, but rather at antidepressants head-to-head and against a placebo. As Deseret News reported last week, the MAHA report, created by the MAHA Commission, had four key findings. It said the childhood health crisis is built on: A poor diet caused by ultraprocessed foods. Toxic chemicals in the environment. Too little physical activity and too much chronic stress. Over-medicalization, including overuse of prescription drugs. According to the report, 40% of the nation's approximately 73 million children under age 18 have one or more chronic medical conditions, while 1 in 5 over age 6 are obese. The report notes that three-fourths of those ages 17-24 are not eligible for military service, largely because they are obese, not physically fit and/or have mental health challenges. The Associated Press reported that the MAHA report 'had already been stoking concerns among Trump loyalists, including farmers who criticized how the report characterized the chemicals sprayed on U.S. crops.'
Yahoo
2 days ago
- Health
- Yahoo
Trump Administration Cancels $600 Million Contract to Develop Bird Flu Vaccine
The Trump administration has pulled funding for a bird flu vaccine, citing concerns about mRNA technology Moderna, which had been developing the vaccine, said it has shown to generate "a rapid, potent and durable immune response" to the virus Earlier this week, the administration rolled back recommendations for COVID vaccines, which use the same technologyThe U.S. Department of Health and Human Services has pulled $600 million in funding it had previously promised to pharmaceutical company Moderna to develop a vaccine for bird flu in humans, citing concerns about mRNA technology. The funding had been allocated under President Joe Biden amid the rapid spread of H1N1 — commonly called bird flu. More than 173 million birds have been culled, according to the U.S. Centers for Disease Control. Nearly 1,000 herds of cattle have been infected. Per the most recent data, there have been 70 human infections and one death. Scientists have warned that the virus could mutate further and have a more dangerous and widespread impact on human health. The Moderna contract was built on a previous government investment of $175 million last year, according to the New York Times. 'This is not simply about efficacy — it's about safety, integrity, and trust,' HHS spokesperson Andrew Nixon said in a statement, per the Washington Post. 'The reality is that mRNA technology remains under-tested, and we are not going to spend taxpayer dollars repeating the mistakes of the last administration, which concealed legitimate safety concerns from the public.' A rep for Moderna tells PEOPLE in a statement: "While the termination of funding from HHS adds uncertainty, Moderna will explore alternatives for late-stage development and manufacturing of the H5 program consistent with the Company's strategic commitment to pandemic preparedness. "Researchers have been exploring mRNA's potential in medicine for over 30 years, leading to the rapid deployment of mRNA-based COVID-19 vaccines that transformed the course of the pandemic. With more than a billion doses distributed worldwide and an unprecedented amount of real-world safety and efficacy data, the benefits of mRNA vaccination — first for COVID-19 and now for respiratory syncytial virus (RSV) — are well established." Messenger RNA, or mRNA technology, made headlines when it was used for Moderna and Pfizer's vaccines against the virus that causes COVID-19 during the pandemic. According to the National Library of Medicine, mRNA technology was 'decades in development as a therapy for cancer and for prevention of infectious diseases.' Whereas traditional vaccines introduce a weakened or dead virus into your immune system, which then prompts your immune system to produce antibodies to fight the virus, mRNA teaches your body to make a 'small part' of the virus, generally a protein, the Cleveland Clinic explains. Your body fights that protein, thereby having the tools to recognize it and kill it in the case you're infected with the actual virus. Results from Moderna's bird flu vaccine research were positive and generated 'a rapid, potent and durable immune response,' the company said in a statement. Earlier this week, HHS head Robert F. Kennedy Jr., a longtime critic of vaccines, announced they were rolling back Covid vaccine recommendations for pregnant women and children amid health experts citing research showing pregnant women who were sickened with Covid faced worse outcomes. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Read the original article on People
Yahoo
2 days ago
- Health
- Yahoo
HHS cancels contract with Moderna to develop bird flu vaccine
Moderna will not be developing a vaccine to protect against bird flu — at least on the federal government's dime. The U.S. Department of Health and Human Services canceled a contract with the pharmaceutical company worth close to $600 million to propel the vaccine's creation. Last summer, President Joe Biden announced roughly $175 million that was to go toward the effort and to ensure the government has the right to buy resulting shots. In January, $590 million was added during the outbreak of bird flu that has impacted chickens and dairy cattle. According to The Washington Post, HHS cited Moderna's use of messenger RNA technology, calling it 'under-tested' as its reason to cancel the contract. 'The decision also forfeited the U.S. government's right to purchase doses ahead of a pandemic, and canceled an agreement set up by the Biden administration in January to prepare the nation for a potential bird flu pandemic. The Moderna contract built on a previous government investment of $175 million last year,' per The New York Times. HHS Secretary Robert F. Kennedy Jr. has repeatedly called into question mRNA technology, which was also used by Moderna and Pfizer-BioNTech during President Donald Trump's first term to develop COVID-19 vaccines as quickly as possible during the pandemic. The designation mRNA stands for messenger RNA, which tells cells to produce proteins that will trigger the desired immune system response or treat a disease, as Pfizer has explained. Telling the body to make a small segment of the targeted virus jumpstarts the body's immune response to the virus. HHS spokesman Andrew Nixon told the Times that 'after a rigorous review, we concluded that continued investment in Moderna's H5N1 mRNA vaccine was not scientifically or ethically justified.' Avian influenza, more colloquially called bird flu, has been a global concern for some time, but reached the U.S. in 2022. It is often spread by flocks of wild birds, which in turn can infect other animals that are in close contact or that eat an infected bird. A wide variety of mammals, including bears, mink, seals, sea lions, cats and others have been infected. But the biggest toll has been on poultry flocks. In the U.S., more than 173 million birds have been destroyed as a result of infection in their flocks. And the outbreak spread to dairy cattle, too. According to the Centers for Disease Control and Prevention, the H5N1 flu virus has spread to 41 dairy herds and 24 poultry farms and culling operations. Along the way since the outbreak began, more than 70 humans have also been infected, mostly those who work with the livestock and flocks. Globally, avian influenza has been quite deadly, but in the U.S., just one person has died. Most who tested positive for bird flu had mild symptoms like miserable red itchy eyes. Human cases have not been common and health officials say the virus does not easily spread to people at this point. But viruses can mutate in many ways and can do so often. There has been concern expressed in public health circles that some mutation will occur that helps bird flu more easily jump to humans or spread from one person to another with perhaps devastating results. Because the 'message' using mRNA technology can be changed quickly if the targeted virus changes, some believe that technology is the best option in a 'fast-moving outbreak,' per the Times. 'Moderna's contract covered several types of flu viruses that have the potential to cause a pandemic. In response to the government's decision, Moderna said it would explore alternatives for developing its vaccines," the article noted.
Yahoo
2 days ago
- Business
- Yahoo
Moderna, Inc. (MRNA) Reports Strong H5 Avian Flu Vaccine Data Despite HHS Funding Cut
Moderna, Inc. (NASDAQ:MRNA) announced today that its investigational H5 avian influenza vaccine, mRNA-1018, has shown promising interim results in a Phase 1/2 clinical trial involving 300 healthy adults. The vaccine, which uses Moderna, Inc. (NASDAQ:MRNA)'s mRNA technology, demonstrated a rapid, potent, and durable immune response. Three weeks after the second dose, nearly 98% of participants reached antibody levels considered protective, with titers rising over 44-fold from baseline. The vaccine was generally well-tolerated, with most side effects being mild to moderate, and no serious safety concerns reported. A scientist studying a petri dish with magnifying glass in a laboratory setting. Despite these encouraging results, MRNA revealed that the U.S. Department of Health and Human Services (HHS) has decided to terminate its award for late-stage development and the right to purchase pre-pandemic influenza vaccines. This unexpected move introduces uncertainty for the program's future. Moderna, Inc. (NASDAQ:MRNA)'s CEO, Stéphane Bancel, emphasized the importance of mRNA technology in pandemic preparedness and stated the company will seek alternative paths for advancing the H5 vaccine. Additional data from the study will be presented at an upcoming scientific conference. MRNA remains committed to developing solutions for emerging health threats and will continue to pursue options for the H5 program's late-stage development and manufacturing. While we acknowledge the potential of MRNA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRNA and that has 100x upside potential, check out our report about this READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
