Some of the best #MuckReads we read this week. Want to receive these by email? Sign up to get this briefing delivered to your inbox every weekend.
The thieves weren’t careful. The payment orders were incorrectly formatted. Yet, in a “total fluke,” the word Jupiter tipped off the Federal Reserve Bank of New York to what was almost a $1 billion bank heist. By the time the fraud was discovered, this investigation asserts, the bank approved five of the payments totaling $101 million—nearly $81 million of which is still missing. The heist revealed “weaknesses in the global financial system,” and inadequacies in systems for detecting potential fraud.
Obamacare's sinking safety net, Politico
Obamacare’s sinking safety net: Millions are getting covered, but many insurers are losing $ & abandoning the system https://t.co/iR2zQN1DUa— Bob King (@BKingDC) July 13, 2016
Obamacare’s greatest example of success can likely be found in North Carolina, where “more than 600,000 people signed up for coverage this year,” but the Tar Heel State might be home to the health care law’s biggest failure as well. According to this investigation, Obamacare is a “financial sinkhole” for many insurance companies. In fact, Blue Cross Blue Shield of North Carolina reported Obamacare losses totaling more than $400 million in 2014 and 2015.
How do privacy violations impact patients? These letters sent to medical providers to resolve complaints about possible federal patient privacy violations offer some insight. The Office for Civil Rights in the U.S. Department of Health and Human Services sends thousands of these letters every year. ProPublica obtained roughly 300 of them under the Freedom of Information Act and made them public.
"Congress would rather let Indians die than adequately fund the Indian Health Service.”— Dylan Scott (@dylanlscott) July 20, 2016
Stunning story: https://t.co/Jxea7yhbxt