Uninsured rate hit new low in 2014

WASHINGTON — The share of Americans without health insurance dropped to its lowest level in seven years in 2014 as President Barack Obama’s overhaul took full effect, according to an extensive survey released Tuesday.

The Gallup-Healthways Well-Being Index found the trend appears likely to continue this year, since 55 percent of those who remained uninsured told the pollster they plan to get coverage rather than face escalating tax penalties.

No state saw a statistically significant increase in the share of its residents uninsured. However, states that have embraced the health care law continued to outperform those where political opposition remains strong.

Fed chair to speak to lawmakers

WASHINGTON — After years of sounding reassuring notes about the need to keep interest rates at record lows, the Federal Reserve is finding the shift to an era of pending rate hikes a tricky and complicated one.

But anyone who expects Fed Chairman Janet Yellen to clarify the timetable for a rate hike when she speaks to Congress this week could be disappointed.

Yellen seems likely to take a wait-and-see stance.

Merck grants free license for HIV drug

TRENTON, N.J. — Drugmaker Merck & Co. has granted a free license allowing one of its HIV medicines to be made and sold inexpensively for use in young children in poor countries hard hit by the AIDS virus.

The deal, announced Tuesday, lets any generic or brand name drug manufacturer make low-cost pediatric versions of Merck’s raltegravir for sale in 92 low- and middle-income countries, according to the Medicines Patent Pool.

Merck sells raltegravir under the brand name Isentress. In the U.S., it costs about $1,350 a month without insurance.

By The Associated Press