Personal Finance

Financial News Roundup: Healthcare Changes Likely, New Jersey Bans Job Discrimination

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Americans should expect healthcare changes in the near futureToday’s top news headlines feature a new study that suggests minimum wage increases would not hinder job growth and changes Americans may see in the healthcare system. Plus, find out how New Jersey’s new law will help unemployed Americans.

Americans Should Expect Some Healthcare Changes In Near Future
CNN Money

The healthcare system is expected to change soon as a result of rising costs, new laws and budget restraints. In the near future, analysts say shortages in the primary care field will mean most patients will no longer see a doctor and companies may prompt employees who participate in their health plan to live healthier lifestyles to obtain the best coverage. Some companies may also reconsider keeping retirees on employer-sponsored plans.

New Jersey Law Helps Unemployed Avoid Job Discrimination
The Huffington Post

A new ban imposed by New Jersey will prohibit employers from publishing job ads in print and online that discourage the unemployed from applying. Companies who violate the law will be fined $1,000 initially and $5,000 each time they disobey the ban afterwards. State Representative Celeste Riley says the legislation may not change employers behaviors, but she hopes it will send them a message.

Minimum Wage Increases Would Not Hinder Job Growth, Study Shows
The Huffington Post

A new study debunks the claim that raising the minimum wage would hurt businesses and inhibit job growth. Economists say a rise in minimum wage, which currently sits at $7.25 per hour, would actually reduce the turnover rate in low-wage industries and prompt Americans to put more money into the economy. Government data shows roughly 1.8 million Americans made minimum wage in 2010.

Would-Be Homeowners Should Make Sure They Have Met Certain Guidelines

Mortgage applicants who employ certain measures may have an easier time securing a loan, experts say. For example, prime loan candidates should have at least six months’ worth of living expenses in savings and a strong credit score. Additionally, adults should make sure the loan they secure does not require them to pay out more than 25 percent of their take home pay each month to avoid overextending themselves.

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