Biden says we have now an ethical obligation to forestall mass shootings on Sandy Hook anniversary

President Biden said America should have a societal debt and the nation has a moral responsibility to prevent mass shootings.

The President said in a statement to PoliticusUSA:

Ten years ago today, our nation saw the unthinkable happen at Sandy Hook Elementary School in Newtown, Connecticut. Twenty little kids with their whole lives ahead of them. Six educators who gave their lives to protect their students. And countless survivors who still carry the wounds of that time.

We should bear the societal blame for taking too long to address this issue. We have a moral obligation to make and enforce laws that can prevent such things from happening again. We owe it to the brave young survivors and the families who lost part of their soul ten years ago to find meaning in their pain.

A few months ago I enacted the Bipartisan Safer Communities Act. We’ve curbed so-called ghost weapons, which don’t have serial numbers and are harder to track down. We have cracked down on the arms trade and increased resources for violence prevention.

Nevertheless, we must do more. I am determined to ban assault weapons and high-capacity magazines like those used in the Sandy Hook and countless other mass shootings across America. Enough is enough. Our commitment is clear. We must eliminate these weapons, which have no purpose other than killing people in large numbers. It is in our power to do so – not only for the lives of the innocent lost, but for the survivors who still have hope.

Jill and I pray today for the families of Sandy Hook and the innocent lives lost that day.

May God bless them all.

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The Sandy Hook shooting was one of the days that should have sparked political action immediately after the killings of kindergarten and first graders in Connecticut. Instead, Republicans showed their cowardice as a party and blocked a measure as limited as universal background checks.

Americans should be ashamed that the children who died in Sandy Hook, Parkland and Uvalde did not lead to national action to stop the senseless killing of children.

Republicans in Congress are the reason children keep dying.

The Sandy Hook anniversary is a reminder of how Republicans are putting gun manufacturers’ blood money ahead of children’s lives.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

Jim Cramer’s Investing Membership Assembly Tuesday: CPI Information, Eli Lilly

30 items for people who find themselves all the time on the go

We have independently selected these offers and products because we love them and we think you might like them at these prices. E! has affiliate relationships, so we may earn a commission if you buy something through our links. Items are sold by the retailer, not E!. Prices are correct at time of publication.

Are you still looking for Christmas gifts? We all have those hard-to-find people on our Christmas and Hanukkah lists. It can be difficult to shop for the busy people, but we all appreciate some useful products that make our life easier, right? If you’re shopping for someone who works full-time, socializes a lot, or travels regularly, they may be too busy to think about a gift they want for the holidays, let alone have time to tell you about theirs choose to tell.

If you are at a loss, there is no need to worry. Here are some gifts for people on the go that they will be happy to receive.

Constellation Power and Sempra Power are dependable utility shares

CNBC’s Jim Cramer on Tuesday offered investors a list of utility stocks he thinks should be on their shopping lists.

“The utilities are a great place to hide when the economy is bad, but the best of them work even when the economy is good,” he said.

related investment news

CNBC Pro

Shares posted their second day of gains on Tuesday after new data showed prices rose less-than-expected in November. Investors are eyeing Wednesday’s December Federal Reserve meeting, which is widely expected to end with a 50 basis point hike in interest rates.

Wall Street also remains concerned that the economy could slide into recession next year despite the Fed’s expected easing of inflationary policy.

Cramer advised investors to consider adding “steady-eddy” utility stocks to their portfolios because of their reliability. “They also tend to protect you with generous dividends that can cushion potential downside,” he said.

Here are his top picks:

constellation energy

  • The nuclear-powered electric utility, which spun off from Exelon earlier this year, is the best-performing utility stock so far this year. Cramer said he likes the stock because he believes nuclear power is the best option for zero-carbon power generation in a reasonable timeframe. The company will also certainly attract funds looking for ESG games, he added.

Always energy

  • Sempra Energy shares are up over 24%, and the stock is the third top performer in its sector this year. Cramer said he likes the company for its broad natural gas pipeline network, growth at a reasonable price and strong leadership from CEO Jeff Martin.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing free to help you build long-term wealth and invest smarter.

FTX founder Sam Bankman-Fried charged with marketing campaign finance

Federal authorities on Tuesday charged FTX co-founder Sam Bankman-Fried with using tens of millions of dollars in client funds to make illegal political donations to Democratic and Republican candidates.

Prosecutors said that one of the reasons he made those contributions was to influence the direction of policies and laws affecting the cryptocurrency industry.

IBankman-Fried diverted client assets held by FTX, a major cryptocurrency exchange, to its separate crypto hedge fund Alameda Research, the Securities and Exchange Commission accused in a civil complaint in federal court in Manhattan.

He then used those funds to make “large political donations,” make investments, and buy “lavish real estate,” according to the SEC complaint.

Bankman-Fried “used Alameda as his personal piggy bank” for these purposes, the SEC said.

A separate but related federal indictment alleges that Bankman-Fried and others violated numerous federal campaign finance laws, including making donations of at least $25,000 to campaigns and political action committees “on behalf of others.” .

Prosecutors said there was a conspiracy by Bankman-Fried and others to also make “corporate donations” to candidates and political action committees in New York “reported on someone else’s behalf,” according to the indictment.

That indictment, also filed in Manhattan federal court, includes additional conspiracy and fraud allegations against the 30-year-old.

In a letter Tuesday to Judge Ronnie Abrams, a federal prosecutor wrote: “The government expects that evidence will show that the defendant defrauded FTX clients by misusing their funds for his personal use, including investing for his own account.” to earn tens of millions of dollars in political donations.”

The prosecutor wrote that the alleged system allowed Bankman-Fried to circumvent limits on the amount of money that individuals can donate to campaigns, “corporate donation limits, and reporting requirements for donations.”

The scheme also allegedly served “in the service of the defendant’s desire to influence the direction of policy and legislation in the cryptocurrency industry,” the prosecutor wrote.

The campaign finance allegations come days after a private surveillance group asked the Federal Election Commission to investigate Bankman-Fried’s political contributions.

The watchdog, Citizens for Responsibility and Ethics in Washington, said Bankman-Fried admitted he donated so-called dark money to Republican-aligned groups during the 2022 primary season. These donations would not have been disclosed in the FEC filings.

CREW’s complaint cites an interview with Bankman-Fried, known as SBF, which suggests he may have donated as much as $37 million or more to campaign efforts related to the GOP in order to legally mandate disclosure of those posts to avoid.

Most of Bankman-Frieds publicly announced campaign contributions, totaling nearly $40 million in the 2022 election cycle2, went to Democrats, FEC records show.

But FTX donated $1 million to the Senate Leadership Fund, a super PAC that works with Republican Senate Minority Leader Mitch McConnell of Kentucky.

The source of this post is West Realm Shires Services, trading name of FTX, according to the file.

West Realm Shires Services also donated $750,000 to the Congressional Leadership Fund, a Super PAC that supports Republicans running for seats in the House of Representatives and supported by the Republican leadership in the House of Representatives.

Richard Painter, a former White House ethics attorney, told CNBC: “The indictment doesn’t give many details — or tell us who the other people involved in the conspiracy to violate campaign finance laws are — but what they allege , is a straw man donor scheme similar to what [conservative commentator] Dinesh D’Souza has been charged.”

Painter noted that Bankman-Fried was known to coordinate some of his political donations with his mother, Stanford law professor Barbara Fried, who previously headed a political action committee called Mind the Gap.

There have been no allegations that Mind the Gap was involved in any illegal activity.

But Painter said, “Of course, those campaign contributions from SBF and PAC funds raised by members of his family bought a tremendous amount of influence in Washington.”

“The question is whether regulators, including the SEC, have refrained from aggressively investigating FTX because of this political influence,” Painter said. “I would also like to know whose campaigns took the money. Did you know about the system?”

Painter said another question is whether politicians who received donations from Bankman-Fried talked about regulating the cryptocurrency markets.

“A number of politicians from both parties have been in contact with the SEC and other regulators about crypto, often arguing against aggressive investigations and regulations,” Painter said.

Follow CNBC’s live blog on Tuesday’s hearing on the collapse of cryptocurrency exchange FTX before the House Financial Services Committee.

Strep A antibiotic costs, shortages hit drugstores amid UK outbreak

Drugstores warn of major shortages of key antibiotics used to treat Strep A as cases rise in the UK

Marco Geber | digital vision | Getty Images

LONDON – Drugstores in the UK are warning of shortages of essential antibiotics to treat Strep A as cases rise and the death toll in children reaches 15.

A surge in group A streptococci, particularly among schoolchildren, has increased demand for the main antibiotic treatments, amoxicillin and penicillin, over the past week.

Where stocks are, drugstores say they’re “flying off the shelves,” and some say they’re now selling drugs at a loss due to rising wholesale prices.

In some cases, pharmacists say wholesale prices for the drugs have increased by as much as 850%.

At least 15 children have died from severe cases of Strep A in the UK this winter season, according to health officials in England, Wales and Northern Ireland. Another death from suspected infection was reported on Saturday but has not yet been confirmed.

While most cases of Strep A are mild and often go unnoticed, it can also lead to more serious conditions and complications, such as scarlet fever. The bacteria can also enter the bloodstream and cause a disease called invasive group A streptococcus (iGAS).

These serious infections can be deadly and are believed to be the cause of the recent wave of deaths.

Cases have risen in the UK this year, with the UK Health Security Agency reporting 6,602 cases of scarlet fever from September 12 to December 4, far more than the 2,538 reported during the last peak in 2017-2018.

Fear of a national shortage

The government and wholesalers have insisted the country is adequately equipped to deal with the outbreak. Prime Minister Rishi Sunak last week dismissed fears of a “national shortage” of antibiotics.

“There is currently no shortage of medicines to treat this and there are established procedures to ensure this remains so,” he told the House of Commons on Wednesday.

However, a letter to NHS England pharmacists, seen by Sky News, acknowledged that local drugstores may be experiencing a “temporary halt to the supply of some relevant antibiotics due to increased demand”.

dr Leyla Hannbeck, executive director of the Association of Independent Multiple Pharmacies (AIMP), which represents drugstore owners nationwide, told CNBC the reality on the ground was becoming desperate.

That just shows the incompetence of those responsible. This isn’t the first time this has happened.

dr Leyla Hannbeck

Managing Director, Association of Independent Multiple Pharmacies

“Clearly there isn’t (enough supply) because it doesn’t find its way into pharmacies,” she said. “And where there are gaps in stock, they fly off the shelves.”

“This is of great concern to us, especially when we have parents who come into pharmacies and unfortunately don’t have the stock,” she added.

Parents were advised to call drugstores beforehand to check prescription availability after Hannbeck noticed reports of families traveling miles between stores.

She said the government shouldn’t be surprised by the shortages earlier this year, given similar shortages of medicines for other outbreaks like monkeypox.

“It only shows the incompetence of those responsible,” she said. “This is not the first time this has happened. Since the beginning of this year I have been speaking to community pharmacies about what is wrong with the UK pharmaceutical supply chains.”

When asked by CNBC, the British Department of Health did not comment on the allegations of incompetence.

Drugstores “foot the bill”

Pharmaceutical supply chains have been severely disrupted this year due to a combination of factors including Russia’s invasion of Ukraine, inflation, Covid-19 and Brexit.

It has resulted in drugstores spending more time – and money – on sourcing drugs.

Under the UK National Health Service (NHS) drug tariff system, drugstores receive a fixed fee for drugs. There is also a discount list of drugs for which higher prices can be paid.

Despite this, When wholesale prices rise, drugstores can end up making losses.

The Government’s Department of Health and Social Care has warned that while prices can fluctuate, “no company should use this as an opportunity to exploit the NHS”.

Streptococcus A – or Group A Strep (GAS) – is a bacterial infection of the throat or skin that typically occurs during the winter months.

Halfpoint Images | moment | Getty Images

However, in the past week wholesale prices for amoxicillin and penicillin liquid solutions – which are an alternative to children’s tablets and are particularly scarce – have risen in some places from around £2 to between £15 and £19, AIMP’s Hannbeck says.

London-based drug wholesaler Sigma Pharmaceuticals reportedly increased the price of its amoxicillin liquid solution by more than 10-fold to £19 on Thursday, but later told CNBC the increase was due to an “IT error”.

Martin Sawer, executive director of the Healthcare Distribution Association, which represents drug wholesalers, said higher prices “directly” reflect increased costs for manufacturers. He dismissed claims of supply shortages, instead pointing to a “huge surge in demand.”

“Right now there is too much demand for products and there aren’t enough competitive products available for purchase from manufacturers,” Sawer said.

If the government doesn’t step in soon to protect pharmacies, patients will face increasing problems getting their medicines.

Janet Morrison

Chief Executive, Pharmaceutical Services Negotiation Committee

Drugstore owners are now calling on the government to update their preferential pricing for amoxicillin and penicillin to ensure they are reimbursed fairly even if prices continue to rise.

Janet Morrison, executive director of the pharmaceutical services negotiation committee, which is negotiating the list of concessions with the Department of Health, said help on pricing was “urgently” needed.

“Pharmacy teams are at breaking point,” she said. “They are helpless against the market forces working against them and desperately need government assurances that all medicines will be available and not at grossly inflated prices.”

A total of 158 medicines were on the NHS’s concession list in November, compared with 135 in October. Morrison said she expects a “record number” of drugs to be added to the list in December as supply shortages exacerbate shortages and drive drug prices even higher.

“For months, pharmacies have been footing the bill for NHS medicines themselves when they should be covered by the government,” said Morrison.

“It can’t go on like this,” she added. “If the government doesn’t step in soon to protect pharmacies, patients can expect increasing problems getting their medicines. The Government and the NHS need to fix this, and fast.”

Mother responds to harsh backlash after slicing teenagers’ hair on-line

The way a mother disciplines her teenage daughter doesn’t sit well on social media — and she might not care. But the backlash against her method was so fierce that the mother later engaged the teenager in an “I’m Not a Victim” video and released some explainer clips. All of this only fueled allegations of abuse and jealousy.

It all started with a TikTok video of the girl being punished – a big hit. The first footage shows the mother in front of the camera explaining her child “Considers it more important to be pretty than educated, more important to be a follower than a leader.”

After that, the mother steadied the camera and explained that it is her “Not a parent who likes to use physical discipline.”

The teen was rocking big box braids with reddish roots at the time. She tells her daughter “Come here, you study today” and proceeds to tug the girl on a front braid. The mother cuts off the braid, leaving small remnants of the teenager’s natural hair. When the teenager objected with a “mama”, the lady went off.

“Mom not me, no. You had your warning, you had your chance. I told you to listen, I told you to stop breaking my rules. I told you being cute doesn’t suck if you don’t have an education. I told you to stop disobeying me, I told you to listen and do what you are supposed to do, I told you to be good at school, I told you that you should do your daily routine,” said the mother. “And you haven’t done any of that yet, and you thought you wouldn’t obey me today, and I wouldn’t come to cut that hair off. You’re wrong, because you thought being pretty was so much better than being educated or really listening to your mom.”

As she scolded, the adult cut the teen’s braids off one braid at a time. Meanwhile, the teenager stood and gave shocked looks to the recording camera. Finally, when the mother was done with the botched big chop, she nudged the teen’s head towards the camera. She said, “Yes, that’s what happens when you don’t listen to your mother.”

At some point we need to talk about the dangers of jealous narcissistic mothers: pic.twitter.com/94JTPt9Wyg

— Bl💞ck B@rbies (@Its_The_Barbies) December 10, 2022

Mom makes daughter explain why she’s ‘not a victim’ then gives her a wig as a gift

Almost immediately, people online began weighing the mother’s decision. While some approved of her method, others slammed her. Neither made the woman reconsider her method of disciplining. Instead, she shot another video with her daughter on the same day as the big chop.

In the episode, the mother is partially off-camera while the daughter and her dissected chop are in full view. She begins by asking her daughter questions, including whether she feels traumatized or abused. With a straight face and calm tone, the teenager answered “No” to every question. The mother then asked if the big punch was a “better form of discipline” than physical discipline, and the teen replied, “Yes.”

Afterwards, the mother reminded the teenager that she loves her and forced the punishment to “do [the teen] a better person.” She then goes through a how-of times list and tries to point out that she’s said to have ongoing issues with the teen.

“I didn’t embarrass you, you embarrassed yourself right,” the woman asked.

https://www.youtube.com/watch?v=6GjgfO-yVHw

And the videos didn’t stop there — she shared more footage of her questioning the daughter, explaining their bond, and finally presenting her daughter with a long wig. The daughter seems happy as she tries on the wig while joining in her mother’s questioning.

@3ella_3osselina in reply to @pouoi123 ♬ Original sound – 👑💸 Bosselina💸👑

Woman justifies cutting off daughter’s hair

The videos started gaining traction last week. About two days ago, the mother gave another set of updates. This time she slammed critics for her comments, particularly women in the sex work industry.

“If you’re a prostitute, if you’re a stripper, if you’re an OnlyFans girl or a TikToking Instagram just doing it for show, you could never give me advice on parenting because your parents screwed it up a long time ago a while ago,” said the mother.

@3ella_3osselina answer to @prettybullyy ♬ original sound – 👑💸 Bosselina💸👑

In another video, she explained that she “couldn’t care” about the comments, likes, and views. She claimed the great chop threat lasted for a year, but that her daughter didn’t believe her, and she didn’t believe herself. After all, she said, she’s true to her word. She also denied allegations that she was jealous of her teenage daughter.

“After exhausting so many different types of discipline, writing lines, grounding and taking away from doing all of that, it doesn’t matter,” the mom said. “If I ask her not to go into the apps, she creates a new one and continues with her badness and does what she wants to do. I’m not going to sit here and tell you what really happened because I’m not here to embarrass my daughter. I’m here to teach my daughter something.”

@3ella_3osselinaRaising A Queen Not A Puppet!🧡👑♬ Original sound – 👑💸 Bosselina💸👑

Social media reacts to mother cutting daughter’s hair

Meanwhile, the Innanet doesn’t seem to think the mother is teaching her daughter much — if at all. Keep scrolling to see the gossip surrounding the mother’s actions:

The child cares about her appearance -> her mother summarily cuts her hair as punishment (implying that she removes part of her beauty) -> the child now sees that not being beautiful is a punishment, so bad.

— Ꮶ🪞Ꭹ (@IfYouSeekKay) December 11, 2022

The parents who cut their child’s hair because they prioritized appearance over education weren’t just emotionally abusive, that’s physical abuse. Isn’t her hair a part of her?

Likewise…. She taught her not to put looks before education by…changing her looks?

— Supernova Momma (@SupernovaMomma) December 11, 2022

When mothers cut their daughters’ hair as “punishment,” it’s never about teaching them a lesson. It’s abuse. Women understand the importance of hair to other women and especially little girls. It’s about humiliating their daughters and making their daughters feel less than.

— Bella Goth 💓 (@LilSexyCommie) December 12, 2022

Say bruh I’m not arguing with you guys about abuse. How about I kick your ass and cut your hair to test your hypothesis? Let’s do a science experiment and see if you feel abused after I’m done

— Supernova Momma (@SupernovaMomma) December 11, 2022

Your mom being your bully is the worst shit you can ever experience, worse for a girl.
The anger she has cutting those curls is from jealousy and nothing else, the girl is still prettier than she is with the hair cut off anyway. https://t.co/3TmqqT9Jma

— Uncle Ras Dartte’ (@Dartte_45) December 12, 2022

A mom on Tiktok cut her daughter’s hair and is talking about it because she values ​​beauty above everything else…AND ALL WHILE USING A FILTER!???

You new generation moms are different, man. Emotional child abuse is just as bad as physical abuse. She has to go to jail!

— Soph ✨🇯🇲 (@Signedbysophiee) December 11, 2022

This Tiktok mom cuts her daughter’s hair, posts the video and after getting hate, she wants to turn off the comments and keep gaslighting her daughter by making videos saying things like “You’re acting like you’d be traumatized, you act like you’re the victim,” a slut she is!

— Destiny (@SUNNYYY_D) December 10, 2022

I came here to say that too…

My mother had a similar experience growing up; had her hair cut off as punishment and that’s some of the worst shit a mother could do to harm her daughter. I wanted to grab mom’s necklace and choke her for this video https://t.co/yrGrdwEd1E pic.twitter.com/ozk3crsFuq

— ✨🌞 Jennicka 🌑✨ (@jennicka_bacon) December 12, 2022

The Supreme Courtroom upholds California’s ban on flavored tobacco

In this photo, packs of menthol cigarettes lie on a table in New York City.

Drew Angerer | Getty Images

The Supreme Court on Monday denied a tobacco industry motion to block a California ban on flavored tobacco products.

The ban, or Proposition 31, was overwhelmingly passed by voters in November and will ban the sale of most flavored tobacco products, including menthol cigarettes.

The 911 call was made by RJ Reynolds, a unit of British-American Tobaccoand other big tobacco companies trying to halt or delay the measure, which is due to go into effect next week.

The law was first passed two years ago, but tobacco companies successfully funded a campaign to block its implementation and brought the issue to this year’s statewide vote.

However, the judges upheld the ban without explanation or public opposition.

RJ Reynolds, who sells Newport menthol cigarettes, argued the ban contradicted the Tobacco Control Act of 2009, a federal law that prohibits states from blocking the sale of tobacco products.

“They can raise the minimum purchase age, limit sales to certain times and places, and enforce licensing rules,” the plaintiffs’ attorneys wrote in their cease-and-desist petition. “But one thing they can’t do is ban the sale of these products outright because they don’t meet the state or region’s preferred tobacco product standards.”

Plaintiffs also argued that the law would incur “significant financial losses” to the tobacco industry. Menthol cigarettes account for about a third of the market in California, they told the court.

RJ Reynolds did not immediately respond to a request for comment Monday.

Some California cities, including Los Angeles and San Diego, have already enacted such bans on flavored tobacco products and menthol cigarettes.

Once the statewide law goes into effect, California will become the second state in the nation, after Massachusetts, to enact a statewide ban.

Marjorie Taylor Inexperienced claims she joked in regards to the 1/6 coup after being blown up by the White Home

Rep. Marjorie Taylor Greene (R-GA) said she was just being sarcastic after the White House blasted her for saying she and Steve Bannon would succeed in a 1/6 coup.

Greene said, speaking at a dinner over the weekend, “I want to tell you something, if Steve Bannon and I had organized this, we would have won. Not to mention we would have been armed.”

White House spokesman Andrew Bates infuriated Greene: “It goes against our core values ​​as a country for a member of Congress to wish to end the May 6 slaughter against the US government. This violent rhetoric is a slap in the face to the Capitol Police, the DC Metropolitan Police, the National Guard and the families who lost loved ones to the attack on the Capitol. All leaders have a responsibility to condemn these dangerous, heinous statements and stand up for our Constitution and the rule of law.”

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Greene responded with a statement claiming she was sarcastically mocking Biden and the Democrats:

The White House needs to learn how sarcasm works. My comments made fun of Joe Biden and the Democrats who have consistently made me a political target since January 6th.

1/5 pic.twitter.com/Nh9rfknEl2

— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) December 12, 2022

Rep. Greene has been a target for Democrats because she was involved in planning to overturn the election and asked Trump for a preemptive pardon. Greene has been the focus of criticism for supporting domestic terrorists arrested after the June 16 attack.

Greene’s comments were disrespectful to the families of law enforcement officers who died in the 1/6 attack, and the idea that the next attack could be even bloodier and more violent sounds a lot like a threat.

Republicans must learn that domestic terrorism is not popular, and the Biden White House will not allow comments like Marjorie Taylor Greene’s to go unchallenged.

Jason is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

Four monetary steps should you’ve had Covid lengthy – or nervous about it

Milan2099 | E+ | Getty Images

Long Covid is a chronic disease with far-reaching implications, both in terms of health and household finances.

According to the US Department of Health and Human Services, as many as 23 million Americans have suffered from long-range symptoms of Covid-19. But there are steps individuals and their families can take to mitigate the negative financial impact in the areas of health, estate, tax, and insurance planning.

“There’s so much you can do to help clients save money and time,” Carolyn McClanahan, a board-certified financial planner and physician, told financial advisors Tuesday at CNBC’s Financial Advisor Summit.

“We’re far from done with this,” McClanahan, founder of Life Planning Partners in Jacksonville, Fla., said of Long Covid.

1. Assess life and disability insurance needs

Some financial planning — like weighing whether you need life and/or disability insurance — is precautionary and should take place before anyone gets sick, McClanahan said.

Waiting until Covid has long developed could mean you pay higher premiums for life insurance or personal disability insurance — or insurers refuse coverage, McClanahan said.

“Receive [clients] insured before they actually develop a disease,” said McClanahan, who is a member of CNBC’s Advisory Board.

For example, life insurers generally require a medical examination to determine the relative health of applicants and may increase costs or deny an application depending on what is revealed during this underwriting process.

More from your health, your money

Here’s a look at more stories about the complexity and impact of Long Covid:

Long Covid has been linked to hundreds of potential symptoms, some of which are debilitating and serious, such as damage to vital organs. Symptoms can last for several months or years in some cases.

Short-term and long-term disability insurance replaces part of an employee’s wages if they are unable to work for an extended period of time. Life insurance policies replace lost income for beneficiaries (such as a spouse and children) in the event of death.

Employees may be able to obtain free or low-cost life or disability insurance through their employer during annual open enrollment.

(Many people with long-distance symptoms also apply for Social Security disability coverage, but applications are generally more difficult to approve because applicants must show they can’t work for at least a year, McClanahan said.)

2. Complete the estate planning paperwork

3. Keep a medical journal of symptoms and visits

Getting a diagnosis for long Covid can be difficult, in part because the disease is new and not yet well understood by the medical community.

For example, there is still no test to determine if someone has had Covid for a long time, meaning some doctors are reluctant to diagnose or treat patients. The dynamics can lead to extensive doctor visits and associated costs.

“People have to go through a series of doctors,” McClanahan said. “Doctors hate it when they can’t just put something in a box.”

For people concerned they may have been ill with Covid for a long time, McClanahan recommends keeping a medical journal with detailed logs of each symptom and doctor visit. This could ultimately help approve a disability claim should it prove necessary, she said.

She also recommends seeing a new doctor if yours is unwilling to long consider Covid as a reason for symptoms; Good doctors show compassion from the start and will work with you to get disability insurance approval, McClanahan said.

Additionally, patients who meet their annual deductible should prioritize any necessary health visits or procedures for themselves and/or family members who are covered by health insurance, she added.

4. Use healthcare spending for tax planning

Doctors hate it when they can’t just put something in a box.

Carolyn McClanahan

certified financial planner and founder of Life Planning Partners

Let’s say your AGI is $50,000 this year. You can deduct any medical expenses over $3,750 from your federal income tax bill. These costs, according to the IRS, may include “payments to diagnose, cure, mitigate, treat, or prevent any disease, or payments for treatments affecting any structure or function of the body.”

Long Covid patients with high, deductible medical expenses can consider financial planning strategies that draw taxable income into the current year but benefit patients over the long term.

For example, you might consider a “Roth conversion,” McClanahan said. This would convert a pre-tax retirement account into a Roth account, a type of post-tax account.

Here’s the benefit: Withdrawing funds from a Roth account in retirement means you don’t owe income tax on the withdrawal like you would with a pre-tax account. The caveat is that you owe income tax in the year you complete the conversion.

People with high annual medical expenses can use the associated tax deductions to negate the income tax payment on a Roth remodel, essentially for free. Depending on which tax bracket you are in, this can result in savings of over 20%.