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PRESS ROOM: Jan. 15 is Final Deadline to Get Health Insurance With Financial Help Through Covered California

LOS ANGELES SENTINEL — The best way to ring in 2019 is by getting the peace of mind that comes with having health insurance for you and your family.

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By Sentinel News Service

The best way to ring in 2019 is by getting the peace of mind that comes with having health insurance for you and your family.

Open enrollment for Covered California runs through Jan. 15, for coverage that begins on Feb. 1. As California’s health insurance marketplace, Covered California continues to deliver on the promises of the national Patient Protection and Affordable Care Act (Affordable Care Act), with 11 insurers serving Covered California consumers all over the state — 96 percent of whom can to choose from two insurers or more, while 82 percent of have three or more choices.

Covered California is the only place you can go to find out if you are eligible for financial help that lowers the price of your health coverage. The average member pays $5 a day for health insurance, with many paying much less. Go to CoveredCA.com to see if you qualify for financial help. It’s easy: Just click on the button that reads “Shop and Compare” and enter your ZIP code, your household income, the number of people who need insurance and their ages.

“There has been so much noise — and at times, plain disinformation — around the Affordable Care Act in the past year, but the important thing for consumers to know is that Covered California’s open enrollment will go through Jan. 15,” Executive Director Peter V. Lee said. “You still have time to sign up and get quality and affordable health coverage throughout 2019.”

If you’ve previously checked whether you qualified for Covered California’s financial help, check again. It only takes a few minutes, and you could end up discovering that you qualify for financial help assisting consumers in saving an average of 80 percent off their monthly health care costs. This health coverage has helped save people’s lives and protected consumers from financial devastation from medical bills that can reach tens of thousands of dollars, and in some cases, millions of dollars. We all know people who have lived without insurance or gone without adequate health care for too long. It doesn’t have to be that way. Help is out there, and now is the time to sign up for life-changing care.

You can get free and confidential enrollment assistance by visiting www.coveredca.com/find-help/ and searching among 700 storefronts statewide and the more than 16,000 certified enrollers who can assist consumers in multiple languages. In addition, consumers can also get help to enroll by calling the Covered California service center toll-free at (800) 300-1506.

This article originally appeared in the Los Angeles Sentinel

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Community

New Report Exposes Tax System’s Role in Widening Racial Wealth Gap, Calls for Urgent Reforms

NNPA NEWSWIRE — The message from Color of Change and Americans for Tax Fairness is clear: America’s tax system is broken, and without immediate reforms, the racial wealth gap will continue to widen. “Addressing the insidious racial preferences in our tax code is one of the most direct ways we can not only help Black communities grow here and now but for generations to come,” concludes Color of Change Managing Director Portia Allen-Kyle.

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iStockphoto / NNPA
iStockphoto / NNPA

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Color of Change, the nation’s largest online racial justice organization, and Americans for Tax Fairness released a damning report Thursday exposing the deep racial inequities entrenched in the U.S. tax system.

The issue brief “How Tax Fairness Can Promote Racial Equity,” written by Color of Change Managing Director Portia Allen-Kyle and Americans for Tax Fairness Executive Director David Kass, exposes the systemic flaws in tax policy that have widened the racial wealth gap and prevented economic mobility for Black, brown, and Indigenous communities.

The report urgently calls for sweeping reforms to stop the flow of tax benefits to the wealthiest Americans — who are overwhelmingly white — while offering concrete solutions to make the tax code work for everyone, not just the top 1%.

“An equitable tax system does two things,” Allen-Kyle asserted. “It narrows the racial wealth gap from the bottom up and spurs economic mobility for Black, brown, and Indigenous individuals and families. Our current tax code fails on both accounts. It’s a prime example of how so-called ‘colorblind’ systems actively prevent Black families from building generational wealth and economic security.”

Tax Code Deepens Racial Disparities, Experts Say

The brief pulls no punches in describing how current tax policies disproportionately benefit wealthy white families, further deepening racial inequalities. By giving preferential treatment to wealth over work, the system locks in economic advantages for white households while leaving communities of color to bear the brunt of these inequities.

“Our tax system is not only failing to address racial wealth inequality, it’s exacerbating it,” Kass warns in the report. “We privilege wealth over work, fail to adequately tax our richest households and corporations, and allow inherited fortunes to compound unchecked by taxation. This perpetuates a legacy of racial inequality.”

The racial wealth gap has exploded in recent years, with the median wealth gap between Black and white households jumping from $172,000 in 2019 to over $214,000 in 2022. Economic crises such as the Great Recession and the COVID-19 pandemic further entrenched these divides, benefiting the already wealthy, while leaving Black, brown and Indigenous communities further behind.

The Racial Wealth Gap and Homeownership

Homeownership, long touted as a primary means of building wealth in America, has failed to deliver for Black families. The report points to factors such as biased home appraisals and a regressive property tax system as key reasons why Black homeowners have been unable to accumulate wealth at the same rate as their white counterparts.

As the brief notes, with critical provisions of the Tax Cuts and Jobs Act (TCJA) set to expire, now is a pivotal moment for tax reform. “We have a once-in-a-generation opportunity to reform our tax system to address racial inequality,” the report states, comparing recent monumental legislation like the Bipartisan Infrastructure Law and the Inflation Reduction Act.

Three Key Reforms to Tackle Racial Inequity

The report lays out three central reforms aimed at curbing the wealth concentration among the ultra-rich and dismantling the racial inequities baked into the tax code:

  1. Taxing Wealth Fairly: The report calls for equalizing the tax rates on wealth and work. Currently, capital gains — profits from investments — are taxed at a far lower rate than wages earned by working people, a disparity that overwhelmingly benefits white households. The vast majority of capital gains income flows to white families, who comprise only two-thirds of taxpayers but receive 92% of the benefits from lower tax rates on investment income.
  2. Strengthening the Estate Tax: The estate tax, which is supposed to curb the accumulation of dynastic wealth, has been weakened over time, allowing large fortunes — primarily held by white families — to grow even larger across generations. The report calls for stronger enforcement of the estate tax to prevent the further entrenchment of wealth and power within a small, overwhelmingly white elite.
  3. Targeting Tax Deductions to Benefit Lower-Income Households: Deductions for mortgage interest, college savings, and retirement accounts disproportionately benefit wealthier, predominantly white households. In order to prevent lower-income and minority households from falling behind due to policies that are currently biased in favor of the wealthy, the brief advocates for restructuring these deductions.

Biden-Harris Administration and Senate Proposals for Change

Both the Biden-Harris administration and Senate Finance Committee Chairman Ron Wyden have proposed addressing the racial wealth gap.

The Billionaire Minimum Income Tax (BMIT) and the Billionaire Income Tax (BIT) would ensure that the wealthiest Americans — who often go years without paying taxes — contribute their fair share. These proposals would raise over $500 billion in revenue over the next decade, which could be reinvested in healthcare, education, and housing for communities of color.

As the report points out, our current tax system is skewed in favor of the ultrawealthy. It allows the rich to avoid paying taxes on the increased value of their investments unless they sell them. They often borrow against these growing fortunes, further delaying taxation, which allows white billionaires to accumulate vast wealth while paying a fraction of what working families pay in taxes.

Defending IRS Funding to Hold the Wealthy Accountable

The report also highlights the critical need to defend IRS funding, restored under the Inflation Reduction Act, which is essential for cracking down on wealthy tax cheats.

Contrary to Republican claims, this funding will not increase tax enforcement on households earning less than $400,000. Instead, it will improve customer service and expand the Direct File program, saving taxpayers significant time and money.

The Biden administration’s restored IRS funding is expected to raise an additional $100 billion over the next decade by ensuring the wealthiest Americans and corporations pay what they legally owe.

A Call for Urgent Action

The message from Color of Change and Americans for Tax Fairness is clear: America’s tax system is broken, and without immediate reforms, the racial wealth gap will continue to widen.

“Addressing the insidious racial preferences in our tax code is one of the most direct ways we can not only help Black communities grow here and now but for generations to come,” Allen-Kyle concludes.

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Business

Opinion: Black Workers Depend on Same-Day Pay. Why is Gov’t Trying to Restrict It?

It’s no secret that too many Americans are living paycheck to paycheck. What appears to be a secret is that an industry that is casting lifelines to those in need is being blocked by state and federal regulators. The industry in question is Earned Wage Access (EWA). EWA is an innovative fintech solution that empowers workers and helps them pay bills on time by accessing wages they’ve already earned. A 2021 study found that EWA services often prevent consumers from missing bill payments and slipping further into debt.

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Jay King is CEO of the California Black Chamber of Commerce.
Jay King is CEO of the California Black Chamber of Commerce.

Jay King, Special to California Black Media Partners

It’s no secret that too many Americans are living paycheck to paycheck. What appears to be a secret is that an industry that is casting lifelines to those in need is being blocked by state and federal regulators.

The industry in question is Earned Wage Access (EWA). EWA is an innovative fintech solution that empowers workers and helps them pay bills on time by accessing wages they’ve already earned. A 2021 study found that EWA services often prevent consumers from missing bill payments and slipping further into debt.

Despite the many benefits and the fact that businesses all across the country, including Paychex, now offer EWA to employees, the Consumer Financial Protection Bureau (CFPB) recently issued guidance that could effectively wipe out this tool and, in the process, let struggling families, already in jeopardy, drown even deeper in debt.

The numbers tell the story. According to a recent study, 66% of Americans report living paycheck to paycheck, while 40% report being unable to afford a $400 emergency expense. They face hardship paying bills, covering financial emergencies, and otherwise making ends meet. These aren’t just workers with minimum-wage jobs either; half of those U.S. consumers facing hardship earn more than $100,000 per year.

This dynamic is especially pernicious in the Black community. According to recent figures, Black Californians currently have the lowest household income of any major racial or ethnic group in the state. Research also indicates that nearly a third of Black families are late paying their debts and 42% use credit cards just for basic living expenses while half do so to send their kids to college.

EWA is ready to support these individuals, yet the CFPB seems to think these services are just loans masquerading as something new. Not only is this wrong, but the agency’s interpretive guidance reverses their previous guidance and contradicts the established language and interpretation of the Truth in Lending Act (TILA).

This change could have a devastating impact on the very people it purports to protect. By categorizing EWA as loans, the CFPB would impose unnecessary regulations that stifle innovation and could drive consumers back toward high-cost payday lenders.

As I mentioned, the numbers tell the story, and EWA has an impressive track record. A recent study from Citizens Bank found that seven in 10 middle-market companies currently offer EWAs to employees, with more planning to do so in years to come. As it happens, few states better illustrate the value, and excellent ROI, of EWAs than California. Californians employed by Walgreens, Home Depot, FedEx Office and other businesses have accessed more than $1.67 billion in wages through EWA. Equally promising, more than half of consumers who tap into EWA can now afford a $400 emergency.

EWA services have always proven to serve the greater good, particularly in supporting underserved communities like the Black community, which is disproportionately affected by financial instability. The CFPB should take advantage of this opportunity to make sure they continue to do so, rather than creating obstacles that could undermine their effectiveness.

I urge the CFPB to rethink this misguided guidance. The agency must prioritize fairness and innovation to protect both consumers and the businesses that employ them.

About the Author

Jay King is CEO of the California Black Chamber of Commerce.

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California Black Media

Bill Would Provide Easier Access to Jobs for State’s Nurses

Nurses across California may soon have easier access to more career opportunities, if Gov. Gavin Newsom signs a new bill into law. With a 76-0 vote on Aug. 26, the State Assembly voted to approve Senate Bill (SB) 1015, legislation that would provide an annual report to the Legislature on clinical nursing placement management and coordination.
The bill authored by Sen. Dave Cortese (D-San Jose) aims to address the nursing shortage in the state’s workforce.

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Shutterstock

By Bo Tefu, California Black Media  

Nurses across California may soon have easier access to more career opportunities, if Gov. Gavin Newsom signs a new bill into law.

With a 76-0 vote on Aug. 26, the State Assembly voted to approve Senate Bill (SB) 1015, legislation that would provide an annual report to the Legislature on clinical nursing placement management and coordination.

The bill authored by Sen. Dave Cortese (D-San Jose) aims to address the nursing shortage in the state’s workforce. Under SB 1015, the State would ensure clinical placement opportunities for California’s future nurses, including nurses attending community colleges, state universities, and other public institutions. The California Nurses Association (CNA), the largest union of registered nurses in the state, sponsored SB 1015 to support nursing students seeking placement in the workforce.

Sen. Cortese said that SB 1015 ensures that the state meets the growing demand in the nursing field.

“As California’s population ages and becomes increasingly more diverse, we will need a qualified and experienced nursing workforce to meet the unique demands and varied needs of all patients. That is why we must have appropriate nurse staffing levels which have proven to reduce mortality rates, reduce hospital length of stays, and reduce the number of preventable events such as falls and infections,” said Cortese.

According to the Board of Registered Nursing, 92 out of 152 publicly funded nursing programs were denied access to clinic placements. The program officials reported that the inability to secure clinical placements is one of the main reasons for not enrolling more students.

Cathy Kennedy, a Registered Nurse and president of the CNA, said that SB 1015 helps nursing students receive a clinical education and placement amid the nationwide staffing crisis, despite their socioeconomic background.

“Clinical education is an essential part of any nurse’s education, yet aspiring nurses, especially students in public programs, are being denied access to clinical placements,” said Kennedy.

“We applaud the California Senate for passing S.B. 1015. It is commonsense reform that will increase transparency and increase oversight from the Board of Registered Nursing,” she added.

If approved, SB 1015 would mandate new levels of transparency for clinical placements and help develop placement standards that ensure equitable access to opportunities in the workforce.

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