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Lawmaker Pushing Mental Health Reform: It’s ‘More Needed Than Ever’

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3 years ago

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SACRAMENTO — During the first week of school closures in San Jose, state Sen. Jim Beall’s office received more than a dozen phone calls from distressed parents and caregivers.

The problem: They couldn’t get free lunches because school district rules required children be present to receive a meal. A grandmother caring for at least seven children couldn’t fit them all in her car. One parent had a sick child who needed to stay at home, and another was unable to bring her child, who has disabilities, to wait in the drive-thru lunch line.

Beall’s staff helped resolve their predicaments by calling the school districts and the schools to mediate. And while lunch line challenges alone might seem minor, Californians are contending with unexpected unemployment, social isolation and anxiety about the virus. All of those added stressors could lead to — or exacerbate — mental health problems as Californians cope with COVID-19, said the Democrat from San Jose.

As the chair of the Senate Select Committee on Mental Health, Beall is one of the most outspoken advocates for mental health in the state legislature. He believes Californians’ mental health needs are more acute than ever and ought to be addressed — even in the face of deep state budget cuts.

“He’s been a unique voice and champion who is not afraid to take an unpopular stand because it’s the right thing to do,” said Michelle Cabrera, executive director of the County Behavioral Health Directors Association of California. “We are in a precarious moment right now.”

But whether state lawmakers will have the appetite — or funding — to enact mental health reform this year is unclear. The focus is unquestionably on responding to the novel coronavirus.

Gov. Gavin Newsom is scaling back his own plans to expand health care. His budget advisers told lawmakers on April 16 the state will spend at least $7 billion to respond to the pandemic. And state Senate President Pro Tem Toni Atkins has asked lawmakers to focus on bills related to the outbreak.

Beall talked to California Healthline’s Samantha Young about why he believes mental health care must remain a priority. He and state Sen. Scott Wiener (D-San Francisco) have said they intend to pursue companion bills creating state parity laws, which would require health plans in California to provide mental health care benefits on par with medical benefits. Their previous attempts have failed, in part because of opposition from the health insurance industry.

Beall also wants the state to certify mental health peer-support specialists, people who rely on their own experiences to help others in treatment.

This interview has been edited for length and clarity.

Q: The state’s response to the coronavirus has taken center stage. Are the mental health reforms you and others have advocated on hold for the year?

I think they are more needed than ever. People are very vulnerable under this kind of stress. Senior isolation is a big problem, and it’s going to get worse and worse. The economy is distressed, people losing jobs causes a huge amount of stress, not being able to pay the rent, PTSD kicks in with veterans.

Q: How do you pay for mental health programs when there is so much competition in the budget to respond to the coronavirus?

Counties have Mental Health Services Act reserves to support existing services during a crisis like this pandemic. They are also receiving state and federal emergency funds. But it’s never enough. We have to find a way to shift our priorities.

The homeless mentally ill population is highly susceptible to the virus. Prioritizing mental health spending is key to the success of a whole community.

Q: What are your priorities on mental health care?

Mental health has always been a segregated element of health care. It should be treated just like any other part of your body in terms of the health care system. It isn’t. We’ve been trained in our minds to think of mental health as a social failing, not a real, legitimate health care issue. In fact, mental health is just like any other disease. If you don’t treat it, it gets worse and worse.

So I believe mental health parity is very important because of that. And I have a philosophical belief that unless we require parity, it won’t happen.

Q: The governor said the state can enforce the existing federal mental health parity law. Can you explain why you believe a state law is needed?

Right now with the staff the state has, they check health plans every three years. We want them to check every year and to do more vigorous checks. Real parity is how long it takes to get an appointment. How many months do I have to wait when they give me a referral to a doctor? Is the doctor able to take patients or is it just a doctor on a list?

Q: Your parity bill focuses on the treatment of substance abuse. Why is that an area that needs focus?

That’s one of the main lagging things with parity. Substance abuse, just a decade ago, was thought of by most people as a human failing, not a medical issue. A lot of people still think that way.

Now, if a doctor sees a patient and the patient has addiction, the doctor says, “You know you’re addicted to opioids and I’ve got to give you this prescription because we have to deal with your addiction. But I can’t really do it right now because I have to submit the request to the insurance company and have them review and approve your medication.” That can take a couple weeks, and in some cases they overrule it. What this bill says is if a doctor says that you’re in need of care for a medical addiction and the doctor prescribes medication, the health plan cannot stop the doctor from prescribing the medication for you.

Q: Why is it in the state’s interest to require insurance companies to cover mental health services equally?

When the insurance companies don’t provide mental health services, people get sick. You know what happens when they get sick? They lose their jobs. When they lose their jobs, guess what happens. When they’re unemployed, they go on Medi-Cal.

Not having good health insurance programs with mental health care costs the state a lot of money when people end up on the Medi-Cal system.


This KHN story first published on California Healthline, a service of the California Health Care Foundation.

—————–

By: Samantha Young
Title: Lawmaker Pushing Mental Health Reform: It’s ‘More Needed Than Ever’
Sourced From: khn.org/news/lawmaker-pushing-mental-health-reform-its-more-needed-than-ever/
Published Date: Tue, 28 Apr 2020 09:00:52 +0000

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Retirement Planning

Ends-of-the-World Every Year Since 1970

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3 years ago

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August 14, 2020

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There always has been and always will be a reason not to invest or not to stay invested. This is all the mainstream media reports to us. Below you will find a list of some of the worst global events each year since 1970. I have some commentary to follow.

1970: War: US troops invade Cambodia.
1971: Civil Unrest: Anti-war militants march on Washington.
1972: Political: Start of Watergate Scandal.
1973: Economic: OPEC raises oil prices in response to US involvement abroad.
1974: Political: Nixon resigns as President of the United States.
1975: Political: Multiple assassination attempts on President Ford.
1976: World: Ebola virus.
1977: Political: Government shutdowns.
1978: Market: U.S. Dollar plunges to record low against many European currencies.
1979: World: Iranian militants seize the U.S. embassy in Teheran and hold hostages.
1980: Economic: Inflation spiked to a high of 14.76%.
1981: Political: President Reagan assassination attempt.
1982: Economic: Recession continues in the U.S. with nationwide unemployment of 10.8%.
1983: Economic: Unemployment in the U.S. reaches 12 million.
1984: Economic: 70 U.S. banks fail during the year.
1985: World: Multiple airplane hijackings around the world.
1986: World: Chernobyl Nuclear Power Station explodes.
1987: Market: DOW drops by 22.6% on October 22.
1988: Environment: Awareness of global warming and the greenhouse effect grows.
1989: Environment: Exxon Valdez dumps 11 million gallons of crude oil into Prince William Sound.
1990: World: Persian Gulf War starts.
1991: World: Mass shooting in Killeen, TX.
1992: Human Rights: Los Angeles riots following the death of Rodney King.
1993: Terrorism: World Trade Center bombing.
1994: World: Mass genocide in Rwanda.
1995: Terrorism: Oklahoma City bombing.
1996: Terrorism: Olympic Park bombing.
1997: World: Bird flu.
1998: World: Multiple U.S. embassy bombings.
1999: World: Columbine shooting.
2000: Economic: Start of the Dotcom Market Crash.
2001: Terrorism: Terrorist Attacks in NYC, DC & PA.
2002: Economic: Nasdaq bottomed after a 76.81% drop.
2003: World: The U.S. invades Iraq.
2004: World: The U.S. launches an attack on Falluja.
2005: World: Hurricane Katrina
2006: World: Bird flu.
2007: Economic: Start of the Great Recession.
2008: Economic: Great Recession continues.
2009: Economic: S&P bottomed after a 56.8% drop.
2010: Market: Flash crash.
2011: Market: Occupy Wall Street and S&P downgrades U.S. Debt.
2012: Political: Fiscal cliff.
2013: Political: Taper tantrum.
2014: World: Ebola virus.
2015: World: Multiple mass shootings.
2016: Political: Divided U.S. Presidential election.
2017: World: North Korea testing nuclear weapons.
2018: Economic: U.S. & China trade war.
2019: Economic: Student loan debt reaches an all-time high of $1.4 trillion.
2020: World: COVID-19.

While many of these events were undoubtedly terrible (and there are certainly others not named here that were worse), most of these were broadcast as end-of-the-world events for the stock market. Despite that attention, it is worth noting that these were, for the most part, one-time events. In other words, most faded into the newspapers of history. We moved on.

Obviously, some caused monumental shifts in the way the world works. Just think about how much air travel continues to be impacted by the events of 9/11. But, outside of the resulting inconveniences (if we want to call safety protocols inconveniences) associated with air travel, flying is safer than ever before.

Take a look at just about any of the events and you will find there are many that people will hardly remember. My point here isn’t that these events are to be ignored or that they were easy to stomach at the time, but that they have become a distant memory.

I want to also make the point that we should expect these types of negative events. As investors, we know these types of crises, economic catastrophes, and global phenomena are going to happen.

But in almost all cases, here is what we can say in the next breath – this too shall pass.

Will there be legal, humanitarian, economic, or some other aid required as a result of these events? Almost certainly the answer is yes, but that doesn’t mean it they won’t eventually fade into history.

Lastly, what’s worth noting is how the market has performed over these last 50 years despite the continual advertisements of the world crashing down around us. On January 2, 1970, the Dow Jones stood at 809 and the S&P at 90 -> those are not typos. These same indexes have grown (not including dividends) to 26,387 and 3,232 respectively. Amazing, no?

Perhaps what gets overlooked more than anything else is what separates the above one-time negative events from the positive stories that go largely ignored over our lifetimes. And that is a story worth telling. See the companion post below:

Unheralded Positive Events Every Year Since 1970

Stay the Course,
Ashby

Retirement Field Guide Mission:

“To help 10 million people make better retirement decisions.”

If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.

This post is not advice. Please see additional disclaimers.

The post Ends-of-the-World Every Year Since 1970 appeared first on Retirement Field Guide.

—————–

By: Ashby Daniels, CFP®
Title: Ends-of-the-World Every Year Since 1970
Sourced From: retirementfieldguide.com/ends-of-the-world-every-year-since-1970/?utm_source=rss&utm_medium=rss&utm_campaign=ends-of-the-world-every-year-since-1970
Published Date: Tue, 04 Aug 2020 13:26:19 +0000

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Wildfire prone property insurance bill in California due for hearing

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3 years ago

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August 14, 2020

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The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.

The bill is expected to be heard in upcoming weeks as opposing sites prepare for major battle.

A new California bill, the outcomes of which will have a lot to say about coverage for wildfire prone property in the state, will soon be headed for hearing. The hearing is expected to be a heated one as strong opposing opinions have the opportunity to be voiced.

Opponents of this bill are calling it a direct attack on consumer protections in insurance.

That said, proponents of the bill claim it is the best method for making coverage available to wildfire prone property in California. The bill in question is Assembly Bill 2167. It was written by Assemblyperson Tom Daly (D-Anaheim). If it passes,it will create the Insurance Market Action Plan (IMAP) program. The IMAP program is meant to protect residential properties.

So far, AB 2167 has progressed quickly, when taking into consideration that a chunk of the legislature has been considerably restricted by pandemic crisis precautions. It was first presented in early June and backers have been saying that it was brought forward in good timing and that it has all the momentum it needs to be passed.

That said, AB 2167 has not been without opposition. In fact, it has faced considerable opposition, having been called an attack on Proposition 103, insurance consumer protection law. California Insurance Commissioner Ricardo Lara lobbed that argument at it, calling it an “insurance industry wish list, with nothing to help consumers,” and Consumer Watchdog, whose founder, Harvey Rosenfeld, was the original author of Proposition 103.

The insurance industry strongly supports the bill, saying it will help wildfire prone property coverage.

Insurance organizations such as the American Property Casualty Insurance Association and the Personal Insurance Federation both support AB 2167. The bill also has the support of the California Association of Counties (CSAC), as well as Fire Safe Councils of California, and the CalFIRE union.

The Consumer Federation of America, another watchdog organization, has predicted that if AB 2167 passes, it will cause 40 percent increases in insurance rates. On the other hand, insurance groups claim that the bill offers owners of wildfire prone property a greater opportunity for choice and competition among insurance companies based on coverage and premiums while avoiding the limitations and high costs associated with FAIR Plan coverage.

The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.

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By: Marc
Title: Wildfire prone property insurance bill in California due for hearing
Sourced From: www.liveinsurancenews.com/wildfire-prone-property-insurance-bill-in-california-due-for-hearing/8549884/
Published Date: Fri, 14 Aug 2020 09:00:14 +0000

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Is this the last hurrah for bonds?

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3 years ago

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August 13, 2020

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Recently, I have written quite a bit about the long-term return expectations for investing in bonds. See here, here, here and here.

Spoiler alert: I don’t think it’s good.

But long-term bonds this year have been quite an amazing story as the COVID pandemic has caused the Fed to take historically monumental actions. As a result, we’ve watched long-term Treasuries tear the roof off the market. For instance, a 20+ Year Treasury Bond ETF (name withheld for compliance purposes) is up more than 31% YTD as of July 31st.

That is insane!

But there is a good reason for this increase shown below.

The red circle shows a decrease in the 30-year Treasury rate of almost 40% over a span of six months. That’s practically unprecedented with only two periods (2008 and 1981-1982) having similar declines over such short periods.

But this begs the question: Is this the last hurrah for bonds as a driver of any meaningful return? Below is the 30-Year Treasury rate over the last 40+ years.

For what it’s worth, people have been forecasting the end of the bond bull market since 2012 (maybe even earlier) and yet it has continued despite those predictions. But at some point, the bond party will come to an end.

The Fed has been clear that they are going to keep rates stable until at least 2022 which means this may not change for a little while longer. Or in the near term, I could even see the high returns continuing if we experience pandemic economic shutdown round two.

But, I can’t see a world where this is the case for much longer than that – most importantly over the span of a 30-year retirement.

The official end of the bond bull market depends on a recovery from the pandemic economy as well as a few other factors causing rates to rise. But when they do, it seems likely to me that this may be the last great hurrah for bonds for quite some time.

The question is when to get off that train and that undoubtedly requires a personal answer.

Stay the Course,
Ashby

Retirement Field Guide Mission:

“To help 10 million people make better retirement decisions.”

If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.

This post is not advice. Please see additional disclaimers.

The post Is this the last hurrah for bonds? appeared first on Retirement Field Guide.

—————–

By: Ashby Daniels, CFP®
Title: Is this the last hurrah for bonds?
Sourced From: retirementfieldguide.com/is-this-the-last-hurrah-for-bonds/?utm_source=rss&utm_medium=rss&utm_campaign=is-this-the-last-hurrah-for-bonds
Published Date: Wed, 12 Aug 2020 13:47:16 +0000

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