Search This Blog

Sunday, March 3, 2019

Retiree Decides to Spend Rest of Life at Holiday Inn, Cheaper Than Senior Home

64-year-old Terry Robison is a working-class retiree trying to make his money last throughout the remainder of his life. And Holiday Inn is the clear winner.
That’s according to a Facebook post from Robison in which he evaluated the per-day cost of staying in a retirement home for seniors and the daily cost of staying at a Holiday Inn. Robison found out that when applying the senior discount he qualifies for, the Holiday Inn would cost less than $60 per day. The senior home, on the other hand, cost around $188 per day, making it more than three times more expensive than the hotel chain.
“That leaves $128.77 a day for lunch and dinner in any restaurant we want, or room service, laundry, gratuities and special TV movies. Plus, they provide a spa, swimming pool, a workout room, a lounge and washer-dryer, etc. Most have free toothpaste and razors, and all have free shampoo and soap. $5-worth of tips a day and you’ll have the entire staff scrambling to help you,” Robison wrote in a Facebook post. “They treat you like a customer, not a patient.”
“It takes months to get into decent nursing homes. Holiday Inn will take your reservation today,” he added. “And you’re not stuck in one place forever — you can move from Inn to Inn, or even from city to city.”
“The Inn has a night security person and daily room service. The maid checks to see if you are ok. If not, they’ll call an ambulance… or the undertaker,” Robison continued. “If you fall and break a hip, Medicare will pay for the hip, and Holiday Inn will upgrade you to a suite for the rest of your life.”
Over the course of a year, Robison would pay approximately $21,900 to stay at a Holiday Inn at the senior discount rate for 365 days. The retirement home he looked at would cost $68,620. And that’s typically the price for a senior home, according to Forbes. In 2017, the outlet examined the cost of retirement homes, and found that while many senior homes weren’t transparent about pricing, the data they could find suggested a retiree could pay up to almost $100,000/year.
“Median annual cost for assisted living, according to the 2016 Genworth Cost of Care Study: $43,539; for a private room in a nursing home: $92,378,” wrote Forbes’ Richard Eisenberg.
Dan Brewer, who works for a company that invests in private-pay senior housing facilities, wrote in 2018 that senior housing can cost anywhere between $1,500 and $6,000/month, or $18,000 to $72,000 over the course of a year. With those prices, it’s no wonder Terry Robison is choosing the Holiday Inn for retirement living.

World’s Hottest Stock Market About to See $46 Billion Pour In

There’s some serious money heading to Chinese stocks, already the world’s best performing equity market this year.
After MSCI Inc. announced Thursday that it would boost the weighting of China’s onshore shares in its emerging market index, more than $46 billion is poised to pour in from funds that track the gauge, according to Bloomberg estimates. Chinese equities climbed to the highest since June on Friday, leaving them up 20 percent this year after gains spurred by speculation the government will take steps to bolster the economy.
Large benchmarks wield an increasing amount of power over investors’ dollars as passive, index-tracking products such as exchange-traded funds gain in popularity. More than $1.8 trillion of investments followed MSCI’s emerging-markets index as of June, but Goldman Sachs Group Inc. estimatesthat $70 billion could ultimately flow into China as active managers and other gauges follow MSCI’s lead on asset allocation.
China-focused ETFs listed in the U.S. jumped Friday, with the Xtrackers Harvest CSI 300 China A-Shares ETF adding 2.4 percent as of 11:55 a.m. in New York. The fund absorbed almost $200 million in inflows last month, the most since August.
But while Chinese stocks rallied, Philippine equities slipped. Markets in southeast Asia could lose out amid the greater allocation to China, according to Morgan Stanley.

MSCI will increase China’s weighting to 3.3 percent from 0.7 percent in three steps between May and November, the indexer said Thursday.
And while that’s a big gain, if the emerging-market gauge was to go by market-capitalization alone, Chinese stocks would account for more than 40 percent. MSCI Chief Executive Officer Henry Fernandez said the nation could win a greater allocation if the economy continues to open up to the outside world.

Acadia Healthcare (ACHC) PT Lowered to $38 at Baird

Baird analyst Matthew Gillmor lowered the price target on Acadia Healthcare (NASDAQ: ACHC) to $38.00 (from $40.00)

WAVE Life Sciences (WVE) PT Lowered to $55 at SVB Leerink


Assembly Biosciences (ASMB) PT Lowered to $42 at SVB Leerink


3 firms vie to be state partner on Hep C treatment of Medicaid patients, prisoners

Louisiana is one step closer to implementing a new method of obtaining normally pricey Hepatitis C drugs — a move that health officials hope will drive down costs and ultimately help the state eradicate the deadly liver-damaging disease.
The Louisiana Department of Health announced Friday that three major pharmaceutical companies have expressed interest in partnering with the state on what’s being dubbed a “Netflix-style” subscription model for obtaining Hepatitis C treatment. Under that model, the state would pay a flat yearly rate for an agreed-upon period and receive unlimited supply of the medication each year. Current costs are so high that few people receive treatment under the existing model, LDH officials have said.
“Our goal with this subscription model is to provide access to treatment for vulnerable populations who need it,” State Health Secretary Dr. Rebekah Gee said in a statement. “We are very pleased with this level of interest and we are looking forward to working with at least one partner to help us end the hepatitis C epidemic in Louisiana.”
LDH received responses on the proposal from AbbVie, Asegua Therapeutics, a subsidiary of Gilead, and Merck.
The department will review all three and announce the selection of one or more partners in April. Under that timeline, the contract would begin July 1 with treatment starting shortly thereafter.
The subscription model idea has been mulled for nearly two years but only started to come together in recent months. Under the proposal, the state will take the money that it currently spends toward Hep C treatment in Medicaid and the prison system, and find a drugmaker that will agree to be paid that amount for unlimited access to the medication over a five year period.
Hepatitis C is virtually curable, but the high costs of medication have made it unaffordable for thousands of Louisiana residents who are infected and rely on the state for health care coverage. The state has been able to cover only a fraction of Hepatitis C patients on the state’s Medicaid program and in prisons.
Nearly 35,000 people in Louisiana’s Medicaid program have the Hep C virus, which is spread through blood contamination and can lead to liver disease and cirrhosis. Because of the high cost of medication, which can run in the tens of thousands of dollars, just 384 Medicaid patients were treated for it last year. Another 4,000 prisoners have Hep C, and a similar fraction received medication in the past year.
The actual number of Louisiana residents living with the curable illness is likely thousands more – at least one LDH estimate put it at more than 70,000 residents.
LDH’s goal is to treat more than 10,000 Medicaid-enrolled and incarcerated patients by 2021 and ultimately eliminate the disease through the use of the subscription model.

UCB presents positive data from Phase 2b psoriasis treatment extension study

UCB presented positive data from the Phase 2b BE ABLE extension study of bimekizumab in patients with moderate-to-severe chronic plaque psoriasis, which showed nearly all BE ABLE 1 responders completing 60 weeks of bimekizumab treatment maintained complete or almost complete skin clearance. The results are the longest-term data so far investigating bimekizumab and further highlight the potential value of the molecule’s unique dual mechanism of action, which potently and selectively neutralizes IL-17F in addition to IL-17A, two key cytokines driving inflammatory processes. Findings were presented at a late breaker session at the American Academy of Dermatology Annual Meeting in Washington, DC. In the BE ABLE 1 study, up to 79% of patients achieved at least 90% skin clearance as soon as week 12, based on a dose range of 64mg, 160mg, 160mg with a 320mg loading dose, 320mg, or 480mg, administered every four weeks. Among these BE ABLE 1 responders, defined as achievement of PASI90 at week 12, 80-100% maintained the rigorous PASI90 measure for up to an additional 48 weeks based on a dose range of 160mg or 320mg, administered every 4 weeks, in the BE ABLE 2 extension study. Further, 70-83% and 78-100% of BE ABLE 1 responders maintained PASI100 and the Investigator’s Global Assessment of response, respectively. The safety profile was consistent with previous studies, with no new safety findings observed. The most frequent treatment-emergent adverse events were oral candidiasis and nasopharyngitis. No cases of suicidal ideation/behavior, major adverse cardiac events, or inflammatory bowel disease were reported. UCB also presented findings this week from the BE AGILE study of bimekizumab in ankylosing spondylitis and the BE ACTIVE study of bimekizumab in psoriatic arthritis. The safety and efficacy of bimekizumab have not been established, and it is not approved by any regulatory authority worldwide.
https://thefly.com/landingPageNews.php?id=2873395