The health insurance system in the US makes it easy for people to lose coverage, with busy lives and digital issues such as spam filters potentially causing people to miss enrollment deadlines, according to Dr. Danielle Ofri in the New York Times. The mortgage industry in the US is facing a severe downturn, with rates close to 8% and applications drying up, leading to companies such as Guaranteed Rate demanding the return of large signing bonuses from former employees, according to Ben Eisen and Andrew Ackerman in the Wall Street Journal. CEO departures are on the rise, with over 1,400 chiefs having left positions through September of this year, a rate 50% higher than the same period in the previous year, with exhaustion and long-delayed changes at companies cited as potential reasons, according to Jo Constantz in Bloomberg.
Here are the week’s top three financial insights gathered from various sources:
The Ease of Losing Health Insurance
Dr. Danielle Ofri reports in The New York Times about the risk to health insurance coverage when important notifications get lost in email spam. Missing the open-enrollment period resulted in being locked into an unwanted basic health insurance plan, leaving her family unprotected. The existing system, with yearly eligibility checks, can easily lead to coverage loss for qualified Americans.
Real Estate Struggles: ‘Stay Alive until ’25’
Ben Eisen and Andrew Ackerman’s report in The Wall Street Journal highlights the dire state of the mortgage industry. With soaring interest rates and dwindling applications, mortgage companies are recalling bonuses and firing brokers. Some are projecting potential recovery around 2025.
Increase in CEO Resignations
Jo Constantz in Bloomberg notes a sharp rise in CEO resignations, with more than 1,400 leaving their positions this year till September, a near 50% increase from last year. This is the highest departure rate on record since 2002. Reasons potentially include exhaustion and strategic leadership changes in response to uncertain times.