MEDICARE ADVANTAGE HEADED FOR COLLAPSE
From The San Juan Daily Star:
The crisis in the Medicare Advantage program is beginning to be felt.
The president of the Physicians-Surgeons Association, Víctor Ramos,
said Wednesday hundreds of Medicare Advantage patients are finding
out that doctors are not accepting their health insurance plans and are
being forced to pay for services out of their own pockets or refrain from
seeking medical treatment. Ramos said that Medicare Advantage has
cancelled health insurance contracts with over 600 doctors without ade-
quate justification. The situation is also causing a mass exodus of doc-
tors from the island as they face a reduction in the number of patients
seeking their services.
PR TO HOST LATIN AMERICA TRADE EVENT
From Caribbean Business:
The Latin American Business Council (CEAL by its Spanish acronym) is
slated to hold its "Latin America and International Trade" meeting Aug.
13-14 at the Condado Vanderbilt Hotel in San Juan. Business leaders, o-
fficials and experts in international commerce will attend the event to de-
bate and contribute to Latin American trade. Among the issues to be dis-
cussed will be Latin America's participation in international trade, new
U.S. developments, the state of global entrepreneurship, internationali-
zation and new business opportunities with Cuba.
BONDHOLDERS DEMAND PFC PAYMENT
From News Is My Business:
OppenheimerFunds and Franklin Advisers, which represent Public Finance
Corporation bondholders, sent a letter to Puerto Rico government officials
demanding that they take “all necessary actions” to make the $58 million pay-
ment missed this week. In the letter, the entities said the nonpayment came
“just a few short weeks” after Gov. Alejandro García-Padilla and Senate Pre-
sident Eduardo Bhatia said the government intended to negotiate with bond-
holders. “Now, just a few short weeks later and before any negotiations have
taken place, negotiations in which we have been willing to participate, the go-
vernment of Puerto Rico has decided not to pay the Public Finance Corpora-
tion bond debt service payment,” the letter stated.
SALSA ICON LEAVITT DIES AGED 66
From Latin Times:
Puerto Rico and music lovers around the world are mourning the death of
Raphy Leavitt, composer and founder of the salsa orquesta La Selecta. The
iconic musician, who was born on September 17th, 1948 in San Juan, Puerto
Rico, passed away on August 5th at his home in Miami, Fla. two days after
undergoing hip surgery. He was 66 years old. "I stay with the memories of a
great human being, a father my whole life and a colleague forever," said band
member Sammy Marrero in an interview with Wapa.