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Gov. Evers Calls Joint Finance Committee into Special Meeting

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Gov. Evers Calls Joint Finance Committee into Special Meeting

MADISON, Wis. (OFFICE OF GOVERNOR TONY EVERS PRESS RELEASE) – Gov. Tony Evers today approved Senate Bill (SB) 1015, now 2023 Wisconsin Act 97, securing $15 million in crisis response resources to support healthcare access in Western Wisconsin in the wake of the recent announcement of HSHS and Prevea Health’s decision to close several locations. In addition to severely impacting healthcare access in the area, according to the Wisconsin Department of Workforce Development (DWD), the closures have been estimated to impact approximately 1,400 workers, among others, in the surrounding region.

Gov. Evers today approved Act 97 with improvements through line-item vetoes that will provide additional flexibility for the $15 million crisis response investment, enabling the resources to be used to fund any hospital services meeting the area’s pressing healthcare needs, including urgent care services, OB-GYN services, inpatient psychiatry services, and mental health substance use services, among others. Without the governor’s vetoes, these services would not have been eligible under SB 1015. Gov. Evers first made the announcement today in Madison while speaking with community leaders from the Chippewa Valley region at the Chippewa Valley Rally, an annual event organized by the Chippewa Valley Chamber Alliance, which represents the Chippewa Falls, Menomonie, and Eau Claire Chambers of Commerce.

“Recent hospital closures in Western Wisconsin have disrupted Wisconsinites’ ability to access basic, everyday healthcare services and uprooted the lives and livelihoods of hundreds of folks and their families,” said Gov. Evers. “My administration and I are working to do everything we can to support those workers and their families, as well as folks across the area who need to be able to access basic and emergency healthcare services alike.

“I’m proud to be securing $15 million in crisis response funding while using my constitutional veto authority to make improvements to ensure more flexibility so these critical resources can be used for any hospital services to meet the healthcare access needs of the Chippewa Valley region, no matter what they may be,” Gov. Evers continued. “It’s been clear in my visits to the Chippewa Valley region and my conversations with community leaders that the impacts of these recent closures do not end at hospital emergency doors—these closures are affecting access to critical healthcare services across the board, and we have to be responsive to these challenges to meet Wisconsinites’ and communities’ needs.”

SB 1015, as passed by the Wisconsin State Legislature, included unnecessary restrictions on the $15 million crisis response funding, limiting the funds to be used only for hospital emergency department services exclusively. The governor’s partial vetoes improve the bill significantly, broadening the scope of the grants that will be available under the bill and allowing the Wisconsin Department of Health Services (DHS) to make the crisis response funds available for any hospital services that meet the needs of the region.

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Concurrent with the governor’s announcement today, Gov. Evers also directed DHS to submit an official request to the Wisconsin State Legislature’s Republican-controlled Joint Committee on Finance to immediately release the $15 million provided for under Act 97. A copy of the request submitted by DHS to the Joint Committee on Finance today is available here. The plan request submitted by DHS reflects the governor’s improvements made to the bill today.

“I’m urging Republicans on the Joint Committee on Finance to approve the department’s request quickly to ensure these resources are immediately available to help stabilize and support healthcare access across the Chippewa Valley region, and to do so without delay,” concluded Gov. Evers. “This investment will go a long way in helping address the very real and pressing healthcare access concerns facing Western Wisconsin, and it is critically important that we get this funding out the door to folks who need it.”

Upon Joint Committee on Finance approval of the DHS’ request, the department will conduct a competitive grant application process for the $15 million in funding for eligible hospitals and hospital services meeting the following criteria:

  1. Eligible hospital services are those provided in the Western Region, with priority for hospitals in Eau Claire and Chippewa Counties.
  2. Grantees must agree to expand capacity (capital and operational) at hospitals (defined as entities with DHS 124 license) that accept all payor types (commercial (consistent with existing networks), Medicaid, Medicare, self-pay, and uninsured) including any of the following services:
  • Increase Emergency Department capacity/service, including accepting patients in crisis in need of potential evaluation under Chapter 51.
  • Expand Urgent Care Services.
  • Expand Inpatient Psychiatric Unit accepting adults and/or adolescents. The unit must accept emergency detentions under s. 51.15 and voluntary admissions.
  • Expand Inpatient OB/GYN services.
  • Expand mental health and/or substance use services.
  • Expand or establish hospital-owned and operated ambulance service to transfer patients to an appropriate patient care setting.

3. Any expansion of services begun on or after January 22, 2024, is eligible for the grant funds.

The governor’s veto message detailing his partial vetoes of SB 1015, now Wisconsin Act 97, is available here.

EVERS ADMINISTRATION’S RAPID RESPONSE TO HEALTHCARE CLOSURES IN WESTERN WISCONSIN

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While not exhaustive, details regarding the Evers Administration’s ongoing rapid response efforts to the HSHS and Prevea health systems closures are available here and detailed below.

DWD Rapid Response Efforts

  • DWD is coordinating rapid response with the local workforce development board. The rapid response support includes assistance with job search and placement, unemployment insurance application assistance, interview preparation, career counseling, and navigation of childcare and health insurance information, among other resources.
  • DWD’s rapid response teams are continuing to gather critical information, meet with the affected employees and employers, and identify opportunities to connect affected employees with new opportunities that provide family-supporting wages.
  • DWD and the local workforce development board hosted community job fairs to assist affected workers and the general public on February 7 and February 20.
  • DWD worked with the local rapid response team to offer 11 information sessions in affected communities.
  • DWD continues to coordinate with DHS and other state agencies to support continuity of healthcare services in the region.
  • Additional services will be made available via DWD’s mobile career labs and job centers for affected employees.

DHS Rapid Response Efforts

  • DHS has met with both the local leadership and the systemwide leadership of HSHS and Prevea Health, and the department will continue to have regular meetings with these leaders moving forward.
  • DHS is facilitating conversations between the leadership of HSHS and Prevea Health and the leadership of other regional healthcare systems, including Marshfield Clinic Health System and Mayo Clinic Health System, and is continuing to urge the three systems to increase transparency in their planning and decision-making.
  • DHS will continue to monitor EMS, trauma, and crisis response going forward, in addition to ongoing transition and continuity of care planning, including:
  • Coordination of an agreement to transfer certain patients from HSHS to Mayo Clinic; and
  • Necessary steps to ensure all local OB/GYNs have privileges at all local hospitals so they can continue to provide care locally regardless of the facility at which they are working. This is particularly important given the pre-existing shortages with regard to OB/GYN care in the region.
  • DHS’s Bureau of Human Resources has notified employees of the department’s Northern Wisconsin Center, who mostly use Prevea Health and HSHS, and the bureau is working with them to help them find care.
  • DHS is conducting outreach to facilities and organizations to encourage them to have a presence at upcoming job fairs in the region, including long-term care facilities, assisted living facilities, DHS-administered facilities, etc.

Wisconsin Office of the Commissioner of Insurance (OCI) Rapid Response Efforts

  • OCI is in communication with Western Wisconsin insurers about their efforts to maintain access and provide timely information for their policyholders.
  • OCI continues to be in contact with health insurance enrollment assisters in the region to answer questions and support their efforts to provide clarity for insureds impacted by the closures.
  • OCI has been in contact with the Wisconsin Department of Employee Trust Funds (ETF) on State Employee Health Plan issues to monitor the situation.
  • OCI has been in contact with the Department of Labor Employee Benefits Security Administration to ensure they are aware of the situation and prepared to support people with employer-based coverage impacted in the area.

ABOUT THE DISLOCATED WORKER PROGRAM

The Dislocated Worker Program provides transition assistance to workers and companies affected by permanent worker layoffs. The rapid response teams help companies and worker representatives develop and implement a practical transition plan based on the size of the layoff event. Types of services include:

  • Pre-layoff workshops on a variety of topics, such as resume writing and interviewing, job search strategies, and budgeting;
  • Provision of information about programs and resources through written materials and information sessions; and
  • Career and resource fairs.

Workers affected by a permanent layoff may also access basic re-employment services at no charge through the state’s Job Centers. Certain services, including training assistance, may be an option for some workers after enrolling in one or more of DWD’s workforce development programs. Additional information on the Rapid Response Team process is available here.

Gov. Evers today also vetoed SB 1014. The governor’s veto message for SB 1014 is available here.

An online version of this release is available here.

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Finance

Where in California are people feeling the most financial distress?

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Where in California are people feeling the most financial distress?

Inland California’s relative affordability cannot always relieve financial stress.

My spreadsheet reviewed a WalletHub ranking of financial distress for the residents of 100 U.S. cities, including 17 in California. The analysis compared local credit scores, late bill payments, bankruptcy filings and online searches for debt or loans to quantify where individuals had the largest money challenges.

When California cities were divided into three geographic regions – Southern California, the Bay Area, and anything inland – the most challenges were often found far from the coast.

The average national ranking of the six inland cities was 39th worst for distress, the most troubled grade among the state’s slices.

Bakersfield received the inland region’s worst score, ranking No. 24 highest nationally for financial distress. That was followed by Sacramento (30th), San Bernardino (39th), Stockton (43rd), Fresno (45th), and Riverside (52nd).

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Southern California’s seven cities overall fared better, with an average national ranking of 56th largest financial problems.

However, Los Angeles had the state’s ugliest grade, ranking fifth-worst nationally for monetary distress. Then came San Diego at 22nd-worst, then Long Beach (48th), Irvine (70th), Anaheim (71st), Santa Ana (85th), and Chula Vista (89th).

Monetary challenges were limited in the Bay Area. Its four cities average rank was 69th worst nationally.

San Jose had the region’s most distressed finances, with a No. 50 worst ranking. That was followed by Oakland (69th), San Francisco (72nd), and Fremont (83rd).

The results remind us that inland California’s affordability – it’s home to the state’s cheapest housing, for example – doesn’t fully compensate for wages that typically decline the farther one works from the Pacific Ocean.

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A peek inside the scorecard’s grades shows where trouble exists within California.

Credit scores were the lowest inland, with little difference elsewhere. Late payments were also more common inland. Tardy bills were most difficult to find in Northern California.

Bankruptcy problems also were bubbling inland, but grew the slowest in Southern California. And worrisome online searches were more frequent inland, while varying only slightly closer to the Pacific.

Note: Across the state’s 17 cities in the study, the No. 53 average rank is a middle-of-the-pack grade on the 100-city national scale for monetary woes.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

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Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

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Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

The up-and-coming fintech scored a pair of fourth-quarter beats.

Diversified fintech Chime Financial (CHYM +12.88%) was playing a satisfying tune to investors on Thursday. The company’s stock flew almost 14% higher that trading session, thanks mostly to a fourth quarter that featured notably higher-than-expected revenue guidance.

Sweet music

Chime published its fourth-quarter and full-year 2025 results just after market close on Wednesday. For the former period, the company’s revenue was $596 million, bettering the same quarter of 2024 by 25%. The company’s strongest revenue stream, payments, rose 17% to $396 million. Its take from platform-related activity rose more precipitously, advancing 47% to $200 million.

Image source: Getty Images.

Meanwhile, Chime’s net loss under generally accepted accounting principles (GAAP) more than doubled. It was $45 million, or $0.12 per share, compared with a fourth-quarter 2024 deficit of $19.6 million.

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On average, analysts tracking the stock were modeling revenue below $578 million and a deeper bottom-line loss of $0.20 per share.

In its earnings release, Chime pointed to the take-up of its Chime Card as a particular catalyst for growth. Regarding the product, the company said, “Among new member cohorts, over half are adopting Chime Card, and those members are putting over 70% of their Chime spend on the product, which earns materially higher take rates compared to debit.”

Chime Financial Stock Quote

Today’s Change

(12.88%) $2.72

Current Price

$23.83

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Double-digit growth expected

Chime management proffered revenue and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for full-year 2026. The company expects to post a top line of $627 million to $637 million, which would represent at least 21% growth over the 2024 result. Adjusted EBITDA should be $380 million to $400 million. No net income forecasts were provided in the earnings release.

It isn’t easy to find a niche in the financial industry, which is crowded with companies offering every imaginable type of service to clients. Yet Chime seems to be achieving that, as the Chime Card is clearly a hit among the company’s target demographic of clientele underserved by mainstream banks. This growth stock is definitely worth considering as a buy.

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How young athletes are learning to manage money from name, image, likeness deals

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How young athletes are learning to manage money from name, image, likeness deals

ROCHESTER, N.Y. — Student athletes are now earning real money thanks to name, image, likeness deals — but with that opportunity comes the need for financial preparation.

Noah Collins Howard and Dayshawn Preston are two high school juniors with Division I offers on the table. Both are chasing their dreams on the field, and both are navigating something brand new off of it — their finances.

“When it comes to NIL, some people just want the money, and they just spend it immediately. Well, you’ve got to know how to take care of your money. And again, you need to know how to grow it because you don’t want to just spend it,” said Collins Howard.


What You Need To Know

  • High school athletes with Division I prospects are learning to manage NIL money before they even reach college
  • Glory2Glory Sports Agency and Advantage Federal Credit Union have partnered to give young athletes access to financial literacy tools and credit-building resources
  • Financial experts warn that starting money habits early is key to long-term stability for student athletes entering the NIL era


Preston said the experience has already been eye-opening.

“It’s very important. Especially my first time having my own card and bank account — so that’s super exciting,” Preston said.

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For many young athletes, the money comes before the knowledge. That’s where Glory2Glory Sports Agency in Rochester comes in — helping athletes prepare for life outside of sports.

“College sports is now pro sports. These kids are going from one extreme to the other financially, and it’s important for them to have the tools necessary to navigate that massive shift,” said Antoine Hyman, CEO of Glory2Glory Sports Agency.

Through their Students for Change program, athletes get access to student checking accounts, financial literacy courses and credit-building tools — all through a partnership with Advantage Federal Credit Union.

“It’s never too early to start. We have youth accounts, student checking accounts — they were all designed specifically for students and the youth,” said Diane Miller, VP of marketing and PR at Advantage Federal Credit Union.

The goal goes beyond what’s in their pocket today. It’s about building habits that will protect them for life.

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“If you don’t start young, you’re always catching up. The younger you start them, the better off they’re going to be on that financial path,” added Nihada Donohew, executive vice president of Advantage Federal Credit Union.

For these athletes, having the right support system makes all the difference.

“It’s really great to have a support system around you. Help you get local deals with the local shops,” Preston added.

Collins-Howard said the program has given him a broader perspective beyond just the game.

“It gives me a better understanding of how to take care of myself and prepare myself for the future of giving back to the community,” Collins-Howard said.

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“These high school kids need someone to legitimately advocate their skills, their character and help them pick the right space. Everything has changed now,” Hyman added.

NIL opened the door. Programs like this one make sure these athletes walk through it — with a plan.

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