LITTLE ROCK, Ark. (KTHV) -- CNN's Maribel Aber has your top business and financial news on this Monday, March 4.
Medicare doctors' pay to be cut
The nation's Medicare doctors, already facing higher costs and sluggish revenue, now face a pay cut because of the automatic spending cuts that were triggered Friday. Under the so-called sequester, Medicare payments to health care providers, health care plans and drug plans will be reduced by 2% starting April 1, according to the Centers for Medicare & Medicaid Services. The bottom line is that doctors who treat Medicare beneficiaries will only be reimbursed 98 cents on every dollar for a vast array of services. Reimbursement for low-income beneficiaries is exempt.
State Department sees no environmental red flags on Keystone route
The State Department said Friday that the Keystone pipeline expansion should have no significant effect on the environment along its proposed route, but stopped short of saying whether or not the controversial pipeline should be approved. If the company behind the pipeline, TransCanada, follows all the rules, its "construction and normal operation" of the pipeline should pose no major risks, the State Department said in its draft environmental impact statement.
After lottery change, Lyon College freezes tuition, fees for next year
The Lyon College Board of Trustees said Friday that it has frozen tuition and fees for the 2013-14 academic year in response to changes in to the Arkansas Scholarship Lottery. The Batesville college said it took "this unusual action" because it wants to keep Lyon "affordable and accessible to students and their families." "The combined effect of the down economy, the uncertainty of the future, as well as the reduction in state scholarships has the families of our students and prospective students concerned," Donald Weatherman, the college's president, said in a news release.
More wives earning more than their spouse
Wives in dual-earner couples are contributing more to total household income than in the past, and a growing percentage of wives are out-earning their husbands, shows a new analysis of family finances from 2006 to 2011. In 2011, the percentage of households with married couples earning two incomes fell, compared with 2006, and those with a single earner rose, according to a report published online Thursday by the National Center for Family and Marriage Research at Bowling Green State University in Ohio.