💊 Medicare gets better

and reducing healthcare costs

Good morning investors! Despite some negative noise, stocks have continued the rally.

Today we cover:

  • Certain weight loss drugs to Medicare.

  • Stocks continue the wild run

  • How to reduce healthcare costs

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🔈 Audio version: Apple Podcasts | Spotify | YouTube. |  Discord

📊 Economy and News 

Medicare now offers more

The Centers for Medicare and Medicaid Services announced on Thursday that Medicare will now cover specific weight loss medications, provided they are approved for additional health benefits.

This change paves the way for broader coverage of popular weight loss medications like Novo Nordisk's Wegovy, now approved in the U.S. for heart health.

Under the new CMS guidelines, Medicare Part D plans can include obesity treatments that the FDA approves for an extra health benefit. Currently, these drugs cannot be covered by Medicare prescription drug plans (Part D) for weight loss alone.

The guidance means that Medicare patients could soon access coverage for Wegovy if they have obesity and a history of heart disease, and are prescribed the treatment to lower their risk of heart attacks and strokes.

Additionally, this guidance opens up the possibility of future coverage for other weight loss medications, many of which are undergoing testing for additional health conditions.

Global hits:

Reminder: Asia markets poised for mixed open as investors await inflation data from the region this week.

📈 Stocks

S&P 500 5,234.18 (-0.14%)
DJIA 39,475.90 (-0.77%)
NASDAQ 18,339.44 (+0.10%)
BRENT CRUDE 85.96 (+0.62%)
* Prices as of Mar 25th, 12:20 AM UTC

Last week was the best week since December

The Dow Jones Industrial Average slipped on Friday but secured its best week of the year following consecutive record-setting sessions.

All three major indices posted solid gains this week, with the S&P 500 climbing approximately 2.3%. The Dow rose just under 2%, marking its strongest performance since December. The Nasdaq outperformed, surging nearly 2.9%.

Market optimism was fueled in part by this week's Federal Reserve meeting. The central bank opted to keep rates steady, and comments from Fed Chair Jerome Powell reinforced expectations of future cuts, despite recent spikes in inflation that had some investors concerned about a delay in easing measures.

Stock futures were slightly lower Sunday evening ahead of March’s last—and shortened—trading week. The market, however, is on track for its fifth consecutive month of gains.

You can see last week’s biggest gainers and losers below.

Stellantis in trouble: The company is recalling 285,000 sedans because side curtain airbag inflators could break open. Plus, it is laying off 400 salaried U.S. workers due to ‘unprecedented uncertainties’.

Biggest losers and winners: sponsored by The Yellowbrick Road

Reminder: FAA says future United projects ‘may be delayed’ due to increased oversight.

Sponsored by Snowball

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In Snowball, you'll be a part of a high IQ community where building meaningful wealth is about more than just money.

It’s about health, relationships, network, and finances.

This is where your wealth goals meet real life. Every conversation is about growing your wealth and living the good life, in all aspects. Ready?

💵 Personal Finance

Do this to reduce healthcare costs

Whether you’re planning to retire or change how you manage things, it’s important that you take a look at healthcare costs as they amount to about 30% of one's total expenditure.

DON’T avoid going to the doctor to save money.

Instead, do this:

  • Ask your doctor if it is possible to choose generic medicines instead of branded drugs. Also, do not be afraid of asking for cheaper alternatives. According to the FDA, generic drugs are just as effective as their branded counterparts. but cost about 85% less.

  • Make good use of available benefits and discounts. Some credit cards, for example, offer discounts on medicines and diagnostics. Our top picks include AccessOne Medcard, Wells Fargo Health Advantage® Card, and CareCredit.

  • People in the US see doctors less often than those in most other countries. Moreover, some people avoid going to the doctor to save money. However, this is a mistake as not going to a doctor means not getting to know about conditions that might be there. A great way to reduce healthcare costs is to be proactive and go for regular checkups (twice a year if you are healthy and more if you have existing conditions) to ensure there are no issues.

  • Get insurance! About 92 percent of the population in the US has healthcare insurance but the number is down in countries like Egypt, India, and the UK. To avoid hassles and financial burden, try to get at least basic insurance that covers medicines and doctor visits.

  • Choose clinics over hospitals. Though not always effective, this trick could end up helping you save money since clinics tend to be cheaper than hospitals. However, there’s a downside as they usually come with fewer facilities.

  • Double check your bills since about 80% of medical bills have errors. Review invoices and ask for itemized bills as they reduce the risk of errors. These errors cost American families about $500 per year. Being careful ensures you don’t end up wasting money.

  • Save for medical emergencies and utilize healthcare savings accounts such as Health Savings Accounts, Medical Savings Accounts, Flexible Spending Arrangements, and Health Reimbursement Arrangements. With these accounts, you'll be able to set aside tax-exempt money for your health care expenses.

Shocker: The US spends more on health care than any other country but still has the 47th lowest life expectancy at birth and the highest rate of people with multiple chronic diseases.

We’d like you to ponder over this and share your feedback with us. Why do you think this happens and what can we do improve the system?

💰 Be a Better Investor

“Compound interest is the eighth wonder of the world; he who understands it, earns it, he who doesn’t pays it.’’

Albert Einstein

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👩🏽‍⚖️ Legal Stuff
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