my special making it your market, thursday, 8:00 p.m., we're talking about you the stock market and money. thank you for watching. >> hello. two nights on "the willis report", our special investigation on and medical cost we will take you inside the secretommittee showing what you have to paylso getting the best deals on travel becameasier. take the drama out of home renovation. how? start early and get the decisions made. >> we are watching out for you. tonight. "the willis report". gerri: our top story tonight

a user's guide to health ca last week and cover the secret committee of doctors pay in america put out by the american medical assoation and is up -- the signs codes for every imaginable procedure imaginable purview have seen themnd they set the price yound your insurance company have to pay but unlike every other part this code has not kep up with the times and that means it allows them to putted for a 50 hour day that stretches the imagination and here is the best part the federal government and i read the

prices the services p are up to0%. you say this may be part of the reason? >> it is a total racket. the ama conducts surveys and they never err on the side to say it i too little but it is so challengg we have to be reimbursed more. gerri: when we talked about this last week that mak no sense of all. give us the example. >> with the intensity of the work required and the time that it takes is the overhead costs so bically th is the incentive for higher reimbursement for procedures so you can remove the ingrown toenail to get id more than spending half an hour to counsel a patient so incentivizes procedures

so that they can't code for more things. gerri: i don't kno any other part of the american system colgate-palmolive does the city will just do this to see what the bears. why is medical pricing the same wy? >> was developed b a harvard onomist in the '80s and enacted by the reagan administration and the bush an administration tries to bringhe medicare costs down. gerri: did it work? >> no. because people gave the system becse one way they treat patients is to take gastroenterology, one of th biggest health problems is hepatitis. the doctors don't get paid for thospatients so they

are doing colonoscopy is all day but not treating hepatitis that is a bigger problem. gerri: and they want a colonoscopyvery 20 minutes a and they cost thousands dollars. dr. stott respond to the ama they said cpt codes is created to provide aommon in greenwich that describes medical andurgical and diagnostic services provided by physicians and other health professionals. medical doctors and other professionals right t the cpt codes and experts provide input. does that really explain what is going on in? >> basally a the federal government punted to the of the ama how they would pay for those discrete servis and they tried to cap but doctors were paid and then they said you fight er it

to figure how to carve it up. but they were never ordere so now that pot has contained more so medicare esn't want to t involved so as a specialist has more in the process will overcompensate. gerri: this a blew me away not that the ama will cook up their prices by consulting with doctors but they also make many, a 72 million f more than from their dues of members basically a uncle sam said here is a monopoly you set the prices you make the money. >> there is a reason for that. >> because the ama used to be against socialized

medicine when johnson tried to get medicare and medicaid tocongress he ide will let the doctors charge whatever they want then they won't impose medicare and that is why costs have gone up so that while a day went them to get mad. >> if there waas a way to get medicare in place what is theiggest problem with the system? >> that doesn't value of physicians' services with of ong kind of behavior to incentivize to right to long notes due justify e code because that is how you will be reimbursed and audited by medicare. >> doesn't tis incentivizes doctors to increase prices?

at the end of the day it is one jack to the medical establishment to increase prices every single year. if you go to the ama doesn't that guaranteed escalatin prices? >> but the price control is like at a dinner with 10 other people in the the check even the but every person h the incentive to order the most expensive thing because they will split the check equally so the doctors have e incentive to build because with the price controls thought they don't affect them directly. >> as a physician in a you know, what codes you can bill and whi are the higher paying codes and doctors are coescend of

that and that drives the wrong kind of behavior for the services you will perform. ggrri: ihink it is outrageous. e-mail usand get in touch with u. lettuce know where you think i think this is shocked the way the country does business. a great job as always. what do you think? should the ama decide how much you pay for medical procedures? we will share the result at the end of t show. we're just getting warmed up including a great way to improve the value of your home. half in the the rise of part-time workers in america will the 29 hourorkweek become a permanent fixture in the economy? ♪

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and so too is the summer event. now get an incredible offer on the powerful c250 sport sedan. but hurry before this opportunity...disappears. the mercedes-benz summer event ends july 31st. gerri: the new e merit -- american economy of

rt-time workers the number of people working part-time because they cannot find full-time jobs has doubled since 2007 from 4 million net debt 8 milon the question is is this a blip in the enomy? >> evening the economy is adding part-time jobs in june alone the economy lost 1 million full-time jobs the economists are debating if this is a short-lived phenomenon someusiness executives aue the health re law is to blame requiring health coverage if they have 50 employees working at least 30 hours per week and ben bernanke said so businesses are saying they are hiring part-time workers over full-time to '04 a the obamace mandate and to one survey shows business is planned oneducing

full-time workers because of obamacare in 20 percent said they will make no changes andwo-thirds say they already offer health care to those working at least 30 hours per week and businesses are still trying to figure out their response to the health care law. >> looking at their data how might i be impacted by the eligibility? definitely they have quantified that into a dollar. it has been the top of my mindor many employers. >> some economists say that it is to blame they point to the sluggish job market government furlohsthe@ white house denies the health care law will reduce hours said it will reduce subsidies to make health care more affordable.

gerri: whichectors does it hit the hardest >> what we're hearing is it boils down to the retail folks in hospitality folks that they don't extend health coverage to there e many cases with that 30 our threshold. gerri: date you. now it is time for stories with the stock market closing a record high despite disappointing earnings. the s&p 500 rose to the record high ian the dow just missed it. a good day for the gold miners but netflix shares are falling after a blockbuster earnings they more than quadrupled thanks to the arrival lover "arrested development" and added 630 subscribe a less

than what was expected. the price of the pomp rising after the july 4th holiday weekend. the national average price it to jump to $0.20 at $3.67. hackers may have gained access to personal information of the developers to make the company's apple apps. this happen on thursday and customer information is supposed to be incorrect did. those of the hot stories on fox business.. leader, should you put your money elsewhere? our panel is here with advice and the answer the question how? the way you can take t job -- the drama about. it can b the boys used double miles from their capital one venture card to fly home for the big familreunion. you must be garth's father? hello. mother. mother! traveng is easy with the venture card becase you can fly any airline anytime.

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>> one of the best thin you can do to increase

gerri: having a renovation doesn't just give you a place to live but increase thproperty's value and also a headache but our next guest says there are important steps to take the drama out. so we have the mostf today's homeowner. dna, i just did th myself to renovate or master bath there is a dust all over my houseeeks later. how do take out the drama? >> somebody that is really involved in remodeling as a profession shoulde an expert at dust containment the curtains with the zipper

obviously did not have those and that helps a lot and completely cleaning all the timemopping and beckoning from the ner one does make a big difference. it will still sneaking its weight in but it can help a lot if you try to contain them right off the bat. gerri: but let me tell you we did have these curtain's up but to get around them was so inconvenient. when it you need to know when you hire that contractor? should you negotiate these kinds of things? >> absolutely ask them what there plan is are they hav different ways to control that. drop cloths also if the window is conducive to open the windows to blow the dust out in any way that you can reverse the effects of this central air and heating system to pull it to the center could help but definitely ask your contractor what is his plan to contain the dust and.

gerri: what is your best advice? and how do you keep your time horizon and keep the bill lowe? >> all of the decisions can be one of the most stressful aspects make sure you start early and get the decisions made and to handle that early that is why the job takes longer b we are all a little optimistic in the contracting business a you have to temper that. gerri: anything i shouldo myself? is there some things that are better done by me? >> a lot of tim people

will do some of the demolition themselves i knew a contractor right now the family and the four teenagers are doing the demolition to cut off of water in the power and they and taking care of the trash with dumpsters in cleaning each day and also with the finishing aspect if you feel up to painting in the finishing touches can save a significant amount of mey but chartres -- smart shopping to drive down the cost. gerri: the prices have gone up dramatically what are some good swaps that can save me money? >> there is a lot of simulated loing granite countertops you don't have to go with granite and the plastics ltd. is unbelievable how realistic it looks. if it is not in the year and

tear b-s the look there is also simulated materials and do-it-yourlf flooring easier than you can imagine. gerri: everyon thinks about renovation and will increase the value of your home? >> kitchen, the center of family life that is ery important but also outdoor livingpaces have started a return on your investment as well with a nice comfortable living area that extends the living area to the outside is also well spent. anything view i'd like when you buy a home obviously a prospective buyer would like as well. gerri: i don't know why you could have done myaster bath. thank you.

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gerr breaking news sold get these pictures a dramatic scene at the airport tonight. at la guardia the news of a southwest airles reportedly collapsed on landing. thankfully there are no injuries it was coming in from daschle and now live or dead is closedor incoming flights the nose gear of the 737 reportedly collapsing of landing. no injuries reported at this time we will follow the story if we have updates we

will l you know, . are youfeeling confident you will be able to retire? sova say we can never retire at this rate relying on social security will not be a possibility a it could go broke in five years dependinn on which study looked at we're all worried about retirement. baker eht.com analysis sh federal lawmakers enjoy benefits the note -- a rest of us could only dream about in addition to social security they're all entitled to a pension as long as they have been in office five years so house members have to serve tee terms and senators of the one. fewer than 20 percent of workers qualify that is down from 80% of members of congress also get health benefits sova 5% covered by

taxpayers. just 25% of firms to offer benefits to all federal workers in general are enrolled in t thrift savings plan but it has the matching -- matching contributions of 5%. the average private sector of the matches 4% also i'd like the rest of us members of congress make the rules with their own retirement plan. that does not sound fair to rehire and joining me now with t super commodities super cycle is david. we'll come. really? could it congress feel i were paid a little more and

make better policy if they had the same benefits we have? >> i don't know if congress feels anything. but your last point congress makes their own rules at&t in the game anyway they want there is two points. liggett the expenses into the pension an is much less whether mutual funds that is the advantage is spread out over 20 years and also the match. 5% on average than now what our employer's matching? is that two or 3%? you have a tough road to hoe in the private sector. >> adding insu injury there is a big debate -- debate right now how much do take out if you're in the private sector.

3% or 4%? >> i think 4 percent is the magic number and it is conservative but that is what you need to consider. not like the 1968 through that 82 period it had a hard time to break out of the glass ceiling we have not made as a tremendous amount of progress over the last tender 13 years and it would not surprise us to see inflation play more of role just like the late 70's so i think keeping it conservative as you can is of narrative 4% is a good number. gerri: i guess we have to retire later. talk about the super cycle what do you make of this? is this what the investors

should take to heart? >> we believe the cyes with the charleston rearch center with the gold cycles it is now bottoming going of projections. gerri: it has gold going back to thef high? >> h a long way to go back don't forget gold prices will hinge on so many things interest rates and ben bernanke. he seems to change his mind every week now gold goes back down.

>> what do you say about china with the of commodity markets? >> the critical contrast between the comdities in the precious metals the secular trend is still up 270 percent better compared to 30 years ago it is que significant over that time frame and we have 38 percent and that cycle is over we will seeee higher prices but the main impact there is the commodities they are responsible between 30 and 60% of coal, nickel, copper coal, nickel, copp, lead, zinc, 40 or 60% of total %-a shrinking demand with a trajectory of 5% this wl hit the commodity sector.

gerri: i here where you are saying but it sods like you think there is no of of you to the epicycle? >> they will go back to the high apple secrs correctly talked about the pass public interest rates 30 years ago they were i know 60 years ag they weee low because there was the television the biggest seller was the government selling fatah bonds as a rethink their rates will go up starting soon over the next 30 years the bond will go down so it is important t look over the viewpoint. >> tn to look short-term what is that outlook? >> pretty good. and tell the rates to start backing up 51 to any return anywhere within noted weakness of commodities you

buy equities a hand in dividends. a and you do that because of the dollar riskurrency risks they actually got some flooding and aside fromil real are getting hammere. gerri: where to go from here? >> once we get above 1700 decisively without the down side we are loing at the mutualund managers having a cash position of less than 4%. we have margin debt at the levels of 2008 just before they bowled over with the 50% decline of equities. also the same as 000. we are concerned the largest inflow into equity mutual funds since june of 2008.

not a context that we think is constructive but the fed can still drive the price is higher. gerri: you are talking over my head. i am not sure what that means. what is a short-term outlook ? >> we are calling for futures in the s&p and the balance will project to go up in david manchin to the dollar. we think that will top next year in and go down in the cycles have been accurate. gerri: thank you for coming on. interesting conversation. the economy is one of the many issues with the white house press secretary every single day and according to yaw prove he has held over five the debriefings with

nearly 500uestions it he sees in this to say some of the same things over and over his avorite phrase makes up the top five. not that i know of 927 times. number four, i am not going to tell you. 939 times. number three, you already know the answer. more than 1100 times. number two, i would refer you choose somebody else. passing the buck is a national pastime and has said that nearly 1400 times. number one the most common answer, i don't have the answer. really? really? isn't that your job more than 1900 times. i don't have the answer. his other one is i don't want to and of course, , i'm not sure. good thing he is not the weatherman.

coming up my interview and it is ao money-saving monday and how you can and cut costs. next. ♪ clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their ve webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i tre like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."

♪ honey, we need to talk. we do? i took the trash out. i know. and thank you so much for that. i think we should get a medicare supplement insurance plan. right now? [ male announcer ] whether you're new to medicare or not, you may know it only covers about 80% of your part b medical expenses. it's up to you to pay the difference. so think about an aarp medice supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, theyelp cover some of what medicare doesn't pay. i did a little research. with a medicare supplement plan, you'll be able to stay with your doctor. oh, you know, i lovehat guy.

mm-hmm. [ male announcer ] these types of plans let you visit any doctor ohospital that accepts medicare patients. and there are no networks. is this a one-size-fits-all kind of thing? no. there are lots of plan options. it all depends on what we need and how much we want to spend. [ male announcer ] ll now to request your free decision guide. it could help you find an aarp medicare supplement plan that's right for you. what happens when we travel? the plans go with us. anywhere in the country. i like that. you know what else? unitedhealthcare insurance company has years and years of experience. what do you say? ♪ i'm in. [ male announcer ] join the millions already enrolled in the only medicare supplement insurance plans endorsed by aarp. remember, all medicare supplement plans help cover some of what medicare doesn't pay and could really save you in out-of-pocket dical costs. you'll be able to choose your own doctor or hospital as long as they accept medicare patients.

and with these plans, there could be low or no copays. you do your push-ups today? prepare to be amazed. [ male announcer ] don't wait. call today to request your free decision guide and find the aarp medicare supplement plan to go the distance with you. go long. gerri: what a cool graphics. [laughter] that was also on. money-saving mandate we are helping you to save money while travellng a handful of phrases that can help you put more mey in your pocket. rick, welcome back to the show. >> the graphics are hard for me to see but i am sure they are cool. [laughter]

gerri: can i get the upgrade just forrasking? >> i think if airlines have their way you would not asking human but this marco but there are ways. if you are moving up with some of the of larger airlines absoluty you can ask for the upgrade even with the smart phone with the international flights upgrading the business class usually cost of the way it less than it would cost to buy the ticket. gerri: that price also would have been eight or $9. it is possible. gerri: just trying to find wayso save. what about willing to be bumped? >> absolutely if they overbooks the flights they

are required to give you cash a little over 1300 or if you decide to volunteer always always asked to be bumped up to the first-class seats and make it part of the requirement absolutely. gerri: i have done that before in there works. they will do it because of to first class is not full. in the other tricks? >>n me cases certainly you have upgrades coming potentially if you have the elite status but it is difficult domestically when the flights are 90% full many first-class cabins are so small there is hardly anything up there but with more legroom absolutely those seats is not sold ahead of time will be released to the public and switch your seat beside it

at the last minute. rri: you know, this prram with the psa with the nightmare to have your luggage checked they are expanding that. is itorth it? >> i think so basically before the of 9/11 in checin tissues on in the of liquids are in the bag is $70 per year unless you'll the fly once or twice, just remember you cannot take your 14 year old kids with you so that may add tohe cost if you do the whole family could get expensive. under 12 year-old they can come with you. at least one of the. gerri: baggage fees. hiking those golf bs is a nightmare. du no baggage fees are five years old? is seems like they have been here forever. >> may 2008 american

airlines $15 and it is now up at 25 and i guarantee if we get $110 oil it will go about 33 go at $75 it will not go back get 50 they are steered tuesday. there are some ways to get around it for so oiously not checking the bags or changing your reservation but airlines like the southwest and jetblue don't have the bag fees ifou achieve the elite status many credit cards will reimburse euro and if you are a really frequent-flier united airlines hasee limited begs per year $340. gerri: i want the magic want good to see you. gerri: n just airlines

also cruises are a good example if you use these phrases you can get the discount. let them know you are the of its hell -- military or returning customer and hotels if you have a kid it could mean the upgrade to sweet. for other ideas log onto gerri willis.com next we talk about the latest book assuming to the top of the charts. the english girl. ♪ ♪ [ villain ] well mr. baldwin... it appears our journey has come to a delightful end. then better use the catal one purchase eraser to redeem my venture miles for this trip. purchase eraser?

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gerri: just in time for summer of with his new book case by novel called the english beat -- the english girl getting rave reviews. i have heard s much about this book tell us when how you came up with the new character. >> it is my 13th novel in the series and this has a special character at the heart of it will. a rising star within the british governing party working at party headquarters everybody thinks she is going places

to be a cabinet minister and she is the mistress of the of british prime minister. gerri: not too f from the reality is a are you reading the newspapers? after all your a former is journalist. >> i inspired by the world around me but it is if they could be happening in a parallel universe. gerri: following edward snowden is that the kind of character you reduce? @% i was contemplating a book that would unfold very mu like these noting case is unfolding now. i will n write that because it appened in real life that i am deeply conflicted.

i always knew the nsa was a giant vacuum cleaners sucking up this information and restoring it to a way. i kn the names of the programs but to have him say it was a shock. gerri: did you know the extent of this? >> sure. anyone who really understands the nsa and the sophisticated computer programs and allorithms put in place after 9/11 to try to idenfy the terrorist even before they knew they were a terrorist themselves. some of the things used in marketing to help retailers sell to people. >>is must help you know that vel of detail. >> i have a lot of contacts in the intelligence worl but still my books are

entertainment, a fantasy and my characters army own creations. gerri: talk about the book industry under pressure with a lot of consolidation and talking about how there are fewer retailers. what does that mean for u? >> not a temendous impact for me my sales continue to grow but aarger portion of my sails profile is taken up by the book. i do have a little distance from the publishing industry i rejoice in it 2009 through 2012 it is i i caae back to a different industry each year because a change so dramatically that now they have stabilized a little bit

we lost borders obviously but my a e-books is what they are. gerri: are you laughing and of -books? >> i write my hands on the legal pad. gerri:oo long? >> i sit in and write to the night ter it into a comper i cannot turned in the handwritten book to my publisher by the use e-books when they need them quickly t i liked it with hard cover. gerri: the industry is incredibly competitive but what about the offer side? i have never seen anything as competitive as what goes on with the right-wing side you have to crawl over the bodies of starvingriters to get to the top. what about the product to get people's attention?

>> mine was the steady growth of my sails profile. explosive debuts or of books like indian brown but to have it slow and steady it has been very liberating. gerri: gabriel will come back full time? >> he better or i am in trouble. [laughter] gerri: we will be back with the answer to the question of the day should the ama of the day should the ama decide how much you the pursuit of a better tomorrow is something we all share. but who can help you find your own path? who can build you a plan, nojust a pie chart? who can help keep your iwhatever lies ahead?,

that someone is a morgan stanley financial advisor. and we're re to work for you. whirring ] [ dog barks ] i want to treat mo dogs. ♪ our business needs more cases. [ male announcer ] where do you want ttake your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there call us. we can show you how at&t solutions can helyou do what you do... even better. ♪

rri: in tonighto show we looked at the one number that controls all of our healt healte spending that little known 5

digit code, the cpt code, the american medical association gives you that code. it pays to read those codes when they show up on your medical bill and understand what they mean, the ama on its web site has a decoder to help you understand who those numbers mean. scour the bill for duplicate billing, billing services tt were never offered and typo, remember 87% of medical bills have a mistake. that is my 2-cents more. what do you think about this. should american medical association decide how much you pay for medical procedures, 86% said no way. good stuff. that is it for tonight's willis

report, dvr the show if you can't catch usive, have a terrific night. lou: good evening thank you for being with us, the beginning of a new week for the obama white house last week president launched a campaign of racial divion in response to george jim hilzimmerman acquittal, a fs campaigned on divertingublic's atntion from numerous scandals that embroil the white house. the new week with a new diversion. from race baiting to the economy and jobs, and president spokes important all but admitted that a differen different -- 2k-69