Today’s News: States Push for $16 Billion for Medicaid, Mortgage Insurance Claims Down and You May Own One of the Most Stolen Cars
State officials are looking to pass a measure that would offer much needed money for Medicaid, mortgage insurance claims have dropped and according to a new list, you may own one of the most stolen cars in the United States.
States Push for $16 Billion for Medicaid
Democrats in Senate are trying to push through a bill that would offer states $27 billion in needed funds, $16 billion of which would be used for Medicaid needs. With health insurance still unavailable to a large number of Americans, the need for Medicaid is still prevalent.
Many states are running out of money to fund the program. As a result, Democrats and President Barack Obama are pushing to pass legislation soon. In order for it to pass, however, it would have to be approved by some Republicans as well (CNN Money).
Mortgage Insurance Claims Have Dropped
Mortgage insuranceâ€”which is offered by the Federal Housing Administration (FHA) for homeowners who can’t come up with their 20 percent mortgage down payment and are in danger of defaultingâ€”has performed better than expected this fiscal year.
However, a recent audit of the FHA has found that if housing prices continue to drop and more people take out mortgage loans and then default on them, the administration may be on the hook for more insurance claims. More claims could result in depleted funds, which could result in taxpayers having to foot the bill to cover the losses (Washington Post).
You May Own One of the Most Stolen Cars
If you’re worried about increasing your auto insurance rates then you may want to avoid some cars that the Highway Loss Data Institute has pinpointed as being the most stolen. At the top of the list was the Cadillac Escalade, which had an annual claim frequency of 10.8 out of every one thousand.
Other vehicles that topped the institute’s list include the Chevrolet Silverado, which had an annual claim frequency of 8 out of every one thousand, as well as the Dodge Charger (7.4 out of every thousand), Chevrolet Avalanche (7.4 out of every thousand) and Infiniti G37 Coupe (7.1 out of every thousand) (CNN Money).