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Diana Farrell is the President and CEO of the JPMorgan Chase Institute, which publishes data analyses and insights that leverage the firm's proprietary transaction data. Previously, Diana was the Deputy Director of the National Economic Council, as well as Global Head of the McKinsey Center for Government and the McKinsey Global Institute. The opinions expressed are her own. The deadline to file your 2017 taxes is just a week away. But if you're one of the millions of Americans — roughly four in ten households — who filed back in February, you probably couldn't wait to get your hands on your expected refund.And there's a good chance you put that refund toward a visit to the doctor.That's according to new research by the JPMorgan Chase Institute, which evaluated when Americans in different income and demographic groups file their taxes.Americans who file their taxes early are more likely to receive a larger tax refund. Early filers were also more likely to spend a larger portion of their refund on health care.Related: How to save money on health care in retirementIn fact, American families increase their health care spending by 60% in the very week they receive a tax refund. And those who received their refunds in February increased their health care spending over the following 76 days by 38%, compared with a 22% increase for those who received refunds in March and an 11% increase in April or May.While some high-deductible health plans encourage early-year spending, JPMorgan found that deductibles aren't the motivating force behind this surge.Instead, among the earliest filers, 64% of their health care spending went to services they had been putting off, including dental visits, hospital visits and in-person doctor appointments.What does this mean? It's increasingly clear that families are treating their tax refunds as a zero-interest savings vehicle, the funds of which they're using for important and sometimes crucial expenses like health care.That's problematic for Americans' financial health, because the IRS does not currently give taxpayers control over the timing of their refund payments, outside of choosing when to file your annual refund between January and Tax Day in April. This means it can be challenging or unrealistic to only schedule payments or purchases around your tax refund every spring.It also poses problems for Americans' physical health, because those who rely on this cash infusion to afford health care are likely to delay care.Related: Americans spend more on health care, but have shorter livesGenerally speaking, young people under the age of 35 and those whose take-home pay is less than ,000 are more likely to be early filers because they have a greater need for this cash infusion.Another reason for filing early could be that low-income families are more likely to receive refundable tax credits, such as the Earned Income Tax Credit, money that is not available except through a tax refund. Across all income and age groups, though, people who are owed a larger refund are more likely to file early.Given the link between tax refunds and health care spending, policymakers and employers should consider making changes that would allow consumers to access funds throughout the year. Policymakers might consider offering periodic tax refund payments -- perhaps quarterly payments so that families wouldn't have to defer care until tax season.Another solution is to make the timing of these payments even more flexible and frequent for those who require urgent health care. This could include an option to apply for emergency funds taken out of your upcoming refund, or an option to file at a different time of year and receive a refund based on year-to-date income.Related: How to file your taxes for the first timeBy fixing one of the largest cash flow events to happen between mid-February and mid-May every year, we're virtually guaranteeing that some Americans will have to defer care.Finally, we should encourage employers to offer alternative savings vehicles, like an employer-based sidecar account. This account would share many of the same features of a tax refund, but give consumers more direct control over when they access funds.These could include built-in commitments and "set-it-and-forget-it" transparency, which would enable consumers the option of a one-time payroll election that recurs with every paycheck, locking them into an annual savings choice similar to other employer-sponsored benefits.By better understanding the connection between health care spending and tax season, we can help more families manage their finances to ensure they're getting health care when they need it, not just when they file to Uncle Sam.The-CNN-Wire 4734
EL CAJON (CNS) - One person was shot and another stabbed at a house party in El Cajon late Saturday night, police say. Several 911 calls came in to police at about 11:50 p.m. Saturday reporting a fight at a party on Andover Road just east of South Second Street, El Cajon Police Lt. Eric Taylor said.Callers reported that multiple people had been kicked out and drove off in a silver car before turning around and firing shots at partygoers who were still outside, Taylor said. One person, a woman in her 20s, was shot in the abdomen.She was taken to a local hospital and was undergoing surgery in stable condition, Taylor said.No one else was hit by gunfire, but when police arrived at the home, they found a man in his 50s had also been stabbed in the buttocks, according to Taylor.The suspects had already left by the time officers arrived, and no one was in custody as of Sunday afternoon. 902
EL CAJON, Calif. (KGTV) - A husband pleaded guilty Tuesday to trying to poison his wife with a heavy metal at their East County home, court officials said.Race Uto, 27, admitted to three counts of premeditated attempted murder in an El Cajon courtroom, according to San Diego County District Attorney's office spokesperson Tanya Sierra.Prosecutors said Uto gave his wife thallium, a metal found in rat poison and ant killers.RELATED: Warrant reveals troubled marriage in poisoning case10News obtained a search warrant indicating Brigida Uto became mysteriously ill in September 2017. She suffered weakness and hair loss, and was eventually near death, according to the warrant. Friends also indicated in a GoFundMe account she suffered nerve and organ damage.Investigators with the FBI, NCIS and San Diego County HazMat determined Brigida had been poisoned by someone with access to her food and drinks. The warrant also showed that Race had an affair while he was deployed in the Navy, and that the couple had gone through counseling.Race Uto was arrested in March 2018. He is scheduled to be sentenced on Mar. 14.Brigida Uto is a special education teacher in the Mountain Empire School District and the mother of a young boy, according to the GoFundMepage. She met her husband at her high school prom when she was 18 and the couple married at 25. 1357
EL CAJON, Calif. (KGTV) - A chain reaction crash on SR-125 in East County sent two drivers to the hospital Monday.A 25-year-old woman driving a Hyundai failed to stop in time to avoid hitting a Toyota Camry at the Grossmont Center Dr. exit at 9:10 a.m., CHP Officer Kevin Pearlstein said.The Hyundai rear-ended the Camry, pushing the Camry into oncoming traffic on SR-125.A Chevy Impala driver on the freeway did not have time to react and struck the driver’s side of the Camry, officers said.Officers had to pull the Camry’s driver, a 23-year-old woman, from her vehicle. She was taken to Sharp Memorial Hospital with moderate to major injuries.The driver of the Impala had moderate injuries.The Hyundai’s driver, a 49-year-old woman, was not hurt.CHP officers do not suspect drugs and alcohol as factors in the crash. 832
Dozens of goats invaded a suburb of Boise, Idaho, on Friday after walking off the job.The goats are workers for a rent-a-goat business called -- what else -- We Rent Goats that hires the herd out as an eco-friendly way to clear weeds.The goats were munching at an Ada County Highway District retention pond when they broke through a fence and escaped, briefly overtaking a street in the West Valley area of Boise around 7 a.m., CNN affiliate KBOI reported.Their arrival created a social media sensation, with goat-themed puns invading Twitter. The Columbus Dispatch, for instance, tweeted, "This looks like a baaaaaaaaaaaaaaad situation." #Boise was still trending as of Friday afternoon.Boise resident Kyle Bryant told CNN he went to see the goats after his granddaughter told him what was happening."It was was the best thing I have seen since we moved to Boise three years ago," Bryant said. "I knew back in Oregon that there were companies that rented out goats, so I thought that this was the same situation."Bryant took videos and shared them on Facebook. "Hey, you missed a spot," one person said on a video.The goat owners arrived with a trailer to round up their goats and get them back to work.We Rent Goats co-owner Kim Gabica told the Idaho Statesman the animals are "great escape artists" and tend to "follow each other."The Idaho Humane Society contained the goats until the owners arrived."The owners of the goats was not cited and the neighbors seemed to appreciate the humor of having a large herd of goats in their yard," Kristine Schellhaas, a spokeswoman with the group told CNN. 1607