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This article details how millennials can invest and let their money grow for decades tax-free, so long as you, or a surviving spouse, eventually use it for medical expenses.
Would this be helpful for those who are struggling with healthcare?

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A lex Cyriac was 33, single and healthy when he got a wake-up call about medical costs in retirement. His mom confided she'd stopped taking a medication because the co-pay under her Medicare drug plan had risen $200 a month. Cyriac insisted she fill her prescription and said he'd pick up the tab. "I had naively assumed that when you retire you have Medicare,'' he says.

Shocked by how high out-of-pocket costs for seniors can be, Cyriac called his best friend, Shobin Uralil, to ask whether his parents were prepared. It was a natural question. The two knew each other through their parents: immigrants from southern India who met up at weddings, birthdays and religious conventions staged by their small Knanaya Christian sect. Uralil responded that his parents hadn't saved for retiree healthcare costs either and added that he himself had just been socked with large out-of-pocket medical bills for the birth of his first child.

Lively CEO Alex Cyriac (left) and COO Shobin Uralil, shown on the balcony of the startup's San Francisco headquarters, split work based on their talents and experience. Cyriac runs engineering and operations, while Uralil heads marketing and finance.
Timothy Archibald for Forbes

That conversation, in 2015, started Cyriac, now 36, and Uralil, now 37, on the path to launching Lively, a VC-backed startup that aims to offer health savings accounts that meet Millennials' expectations for financial products: low (or at least transparent) fees and easy to manage online. Four other fintech startups have HSAs in beta testing.

In 2003, Congress authorized HSAs as tax-shelter bait to lure families into high-deductible plans, which-the theory went-would turn them into more cost-conscious healthcare consumers. At the end of January, Americans held $60 billion in 26 million HSAs, an average of $2,300 per account, reports HSA advisory firm Devenir. Still, that's a pittance compared to how big the pot could grow if Millennials embraced HSAs as they have 401(k)s; more than 90% participate in employer-sponsored retirement plans when eligible, the National Institute on Retirement Security reports.

If you're covered by an eligible high-deductible health plan, in 2019 you can contribute up to $3,500 for an individual or $7,000 for a family to an HSA, reducing your taxable income by that amount. HSA money is tax-free when withdrawn, provided it's used to pay for medical, dental or long-term care ex penses. Here's the key: You don't have to use what's in your HSA right away. Instead, you can invest and let your money grow for decades tax-free, so long as you, or a surviving spouse, eventually use it for medical expenses. An HSA can even serve as a backup rainy-day fund; should you suddenly need cash, you can take money out tax-free to reimburse yourself for any prior years' medical expenses paid from outside the account. Plus, once you turn 65, you can withdraw money for nonmedical uses, paying the same tax as you would on withdrawals from a pretax 401(k).

When they first discussed medical expenses, Cyriac and Uralil already knew a bit about HSAs, both their tax advantages and their drawbacks in practice. Cyriac, a computer engineer by training, had spent two years running operations at Justworks, a New York cloud-based payroll and benefits provider. Uralil, with an M.B.A. from MIT, was running operations at Boston-based Retroficiency, which sold software to monitor buildings' energy efficiency. He oversaw company benefits, including an HSA, which, he says, had a terrible interface and forced participants to keep their savings in cash. (Most of the 2,600 HSA providers in the U.S. are small banks and credit unions that offer only savings accounts and CDs.)

The friends decided they could do better with a digital-native product. In mid-2016, Cyriac quit his new job at payments company Worldpay in San Francisco and rented space at WeWork, becoming Lively's CEO. Startup funds of $600,000 came from friends, a Worldpay executive, the founder of Justworks and PJC, a venture fund that had backed Retroficiency. New dad Uralil held on to his day job longer, moving out to San Francisco in January 2017, just in time for the two to begin an intensive 12-week stint at famed incubator Y Combinator.

By March 2017, Cyriac and Uralil had Lively's simplified HSA, with its exclusively online administration, up and running. By that October, they had added investment options through a brokerage account at TD Ameritrade and had an additional $3.5 million in funding from a group that included NBA star Kevin Durant. This past October, Lively raised $11 million to fund expansion. Its 28 employees now work in a loft space opposite San Francisco's ballpark.

Most of the $100 million in HSA assets Lively has gathered so far has flowed in through word of mouth and online reviews. Its website features videos, snippets of advice and a "no paper cuts" boast. Lively's first iOS app is due to launch in April.

The founders generated early buzz by offering basic individual HSAs for free-plus, later, $2.50 a month if you wanted a TD Ameritrade account. While just 13% of HSA assets are in individual plans, interest in them is strong among self-employed folks and job hoppers rolling over HSA accounts. Lively's small business plan has attracted employers seeking to move benefits administration to the cloud. Zaid Ashai, CEO of Nexamp, a solar company in Boston, says he's switched to Lively for HSAs and fintech startup Guideline for 401(k)s to reduce HR overhead and attract Millennials. "It's a differentiator in recruiting.''

Make no mistake: Lively faces some stiff competition, and not just from startups in beta testing. Last November, Fidelity Investments added fee-free individual HSAs to its lineup of employer HSA plans. "We're positioning HSAs as a critical component of employee retirement savings," says Begonya Klumb, head of Fidelity's $4.1 billion-in-assets HSA operation. Lively responded by dropping its $2.50 a month charge for a TD Ameritrade account.

Mark Selcow, a partner at Costanoa Ventures, which led Lively's $11 million round, figures there's plenty of growth to go around. "HSAs are underutilized and under-optimized by consumers,'' he says. No kidding. While 26.1 million adults under age 65 now have health insurance plans with HSAs, the Employee Benefit Research Institute estimates another 57 million could opt for them through their employers, the Obamacare exchanges or the private market.

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Fintech's Next Frontier: The $60 Billion Opportunity To Change Millennials And Their Healthcare

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A lex Cyriac was 33, single and healthy when he got a wake-up call about medical costs in retirement. His mom confided she'd stopped taking a medication because the co-pay under her Medicare drug plan had risen $200 a month. Cyriac insisted she fill her prescription and said he'd pick up the tab.

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This article focuses on Tesla's plans to raise more than $2 billion new capital, with $650 million of that coming from shares of common stock.
Would Tesla become richer if they did this because they use common stock?

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Tesla said on Thursday it plans to raise more than $2 billion new capital, with $650 million of that coming from shares of common stock.

CEO Elon Musk will participate in the capital raise, purchasing 41,896 shares of the company's stock, worth $10 million, in the new offering, according to a Securities and Exchange Commission filing. Tesla will also offer $1.35 billion of convertible notes, or $1.55 billion if underwriters exercise options to purchase additional notes in full.

Shares of the electric-car maker surged in pre-market trading.

Tesla hired Goldman Sachs, Citigroup, Bank of America Corp., Deutsche Bank, Morgan Stanley, Credit Suisse and Wells Fargo to underwrite the share offering.

In an SEC filing on Monday, Tesla said it could decide to explore alternative financing sources, despite generating enough cash to cover near-term obligations. The company estimated it had between $2.5 to $3 billion annually for the next two fiscal years, and expected that cash generated from its core operations would be sufficient to cover its future capital expenditures.

"As always, we continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business," the documents said.

Three days later, Tesla said in a new SEC filing that it planned to raise $2.3 billion by selling common stock and debt securities.
This is a developing story. CLICK HERE TO GET THE FOX BUSINESS APP

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Tesla plans to raise $2.3 billion new capital

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Tesla said on Thursday it plans to raise more than $2 billion new capital, with $650 million of that coming from shares of common stock. CEO Elon Musk will participate in the capital raise, purchasing 41,896 shares of the company's stock, worth $10 million, in the new offering, according to a Securities and Exchange Commission filing.

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The article exposes Trump’s decision to end the sanctions waivers which could result in a spike in U.S. gasoline prices.
Imagine if we didn't need oil to run our cars and invent new forms of natural fuels.

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Oil prices dropped on Thursday even though the Trump administration officially ended waivers that had been granted to some nations allowing them to continue importing oil from Iran.

On Thursday, WTI crude oil prices fell by nearly 3.8 percent to $61.19 per barrel, while Brent Crude dropped to $69.95 per barrel.

There were concerns oil prices could spike as President Trump looks to drive Iran's oil exports to zero by ending exemptions to the sanctions which were granted to eight countries that buy Iranian oil.

However, it was fears about oversupply that appeared to dominate on Wall Street.

Government data showed that U.S. crude stockpiles rose to their highest levels since Sept. 2017 last week, jumping 9.9 million to 471 million. Meanwhile, production hit a record high 12.3 million barrels per day.

And while OPEC members agreed to curb output by 1.2 million barrels per day for the first half of 2019 at their December meeting, data from Russia this week showed it did not meet its target for production cuts.

As previously reported by FOX Business, it was feared Trump's decision to end the sanctions waivers could result in a spike in U.S. gasoline prices - if oil moved higher. Crude oil accounts for more than half of the retail price of U.S. regular gasoline.

Gas prices are already at their highest level so far this year, with the national average at $2.88 per gallon.
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President Trump has said he has spoken with Saudi Arabia "and others" about increasing oil production to offset the decline and "all are in agreement."

Iran exported 1.4 million barrels per day during the first three months of this year, as reported by The Wall Street Journal.

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Oil prices dropped on Thursday even though the Trump administration officially ended waivers that had been granted to some nations allowing them to continue importing oil from Iran. On Thursday, WTI crude oil prices fell by nearly 3.8 percent to $61.19 per barrel, while Brent Crude dropped to $69.95 per barrel.

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This article focuses on the number of CEOs at S&P 500 companies which will grow to 26 and will represent just 5.2% of all S&P 500 CEOs.
Imagine if Best Buy stores will expands due to women being CEOs of the company.

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best buy's new female ceo will join a growing -- but still minuscule -- club - cnn

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Best Buy's new female CEO will join a growing -- but still minuscule -- club

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With news that Best Buy named Corie Barry its new CEO, the number of women CEOs at S&P 500 companies will grow to 26, according to Catalyst.

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Heir of Disney demands 50% bonuses to low-paid employees

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Heir of Disney demands 50% bonuses to low-paid employees

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This article details the argument between the CEO of Disney and Walt Disney's daughter who proposes the company put aside half of the bonuses its executives earn, distributing that to the bottom 10% of Disney's employees.
Should the CEO of Disney give up 10% or more of his earnings to the minimum wage workers?

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abigail disney calls on company to give 50% of exec bonuses to lowest-paid employees - cnn

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Disney heir calls on company to give 50% of exec bonuses to lowest-paid employees

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Abigail Disney is doubling down on her criticism of executive pay at her family's company.

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This article exposes that all winnings on the game show are taxed up to 37% by the IRS. Winners must report game show winnings, and will receive an IRS Form 1099. The winnings are considered as another source of income.
Should the IRS not take money from the winnings? I wonder if it is the same towards lottery ticket winners.

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If you're like me, watching 34-year-old professional sports gambler James Holzhauer on may make you feel pretty dense. He is just so knowledgeable about just about everything. His unique strategy of finding Daily Doubles and betting aggressively has paid off big time.

In a 10-day streak, he's already shattered his own record with a $131,127 single-day win. His 10-day total is $697,787 . That's not exactly matching Ken Jennings, whose record 74-day winning streak makes him the all-time champion. Jennings won a total of $3,196,300, of which $2,520,700 was from regular season play. Holzhauer is now the second highest-earning winner of all time. Of course, like just about everything else, does the IRS get a slice? You bet. All winnings on game show are ordinary income, taxed up to 37% by the IRS. Most states have state income tax too. Of course, Gambling winnings are also taxed. You must report game show winnings, and you will receive an IRS Form 1099--just in case you forget to put your win on your tax return. Winnings are generally just "other income" or miscellaneous income.

Many shows warn you about taxes and Forms 1099 in advance, just so contestants don't go in with the wrong impression. And if you go on a show that awards prizes, even if you don't win cash, the goods that you receive are taxable too. You'll have to pay tax on their fair market value, including goods, services or trips. Yes, winning a car means taxes too. Remember Oprah Winfrey's car giveaway of 2004? Millions of Americans recently filed their tax returns and had to pay up. But some changes in the big tax bill that passed at the end of 2017 can make tax time even worse. For example, how about writing off expenses? Suppose that our Jeopardy! winner logically says he wants to claim his hotel, air, and other expenses on his taxes, to offset some of that income?

It sounds logical enough, and up until 2018, you could deduct expenses as miscellaneous itemized deductions. But for 2018 and beyond, that deduction is gone. So even though a Jeopardy! or other game show winner might well have legitimate offsetting expenses, there's no easy way to claim them. A big winner like Mr. Holzhauer might argue he's in business, and file a schedule C. That could mean he's taxed only on his net. But he might subject himself to self-employment tax on top of income tax. Ouch. If he stayed off of Schedule C, game show winnings, fortunately, steer clear of self-employment tax. Of course, Mr. Holzhauer says he's a sports gambler, so is tax return may already be tricky. And maybe his Jeopardy! wins tie into his professional role, which could help.

Can a winner who doesn't need the money avoid taxes via gifts to charity, family, and friends? Only gifts to charity qualify for a tax deduction, and the deduction math favors the government. As for gifts to family and friends, you can't generate an income tax deduction by those transfers. In fact, you could double up on taxes, even triggering gift tax too. But cheer up, a big Jeopardy! winner is still a big winner, and his expenses are probably small in any event. Contrast that to people who win lawsuits and get a legal settlement. Many litigants used to deduct their legal fees as miscellaneous itemized deductions. So if they won $1M, and $400K went to their lawyer, they would report $1M, and deduct the $400K. But amazingly, many legal fees now simply can't be deducted. There are a number of exceptions from this strange tax rule for certain types of cases, where legal fees are still fully deductible. But unless you meet one of them, some plaintiffs are actually paying tax on their gross recovery, not their net recovery after legal fees.

In that sense, being a big Jeopardy! winner is actually awfully sweet, tax bill or not.
This is not legal advice. For tax alerts or tax advice, email me at Wood@WoodLLP.com.

I handle tax matters across the U.S. and abroad (www.WoodLLP.com), addressing tax problems, tax disputes, writing tax opinions, tax advice on legal settlements, transact...

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For 'Jeopardy!' Big Winner, IRS Wins Big Taxes Too

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If you're like me, watching 34-year-old professional sports gambler James Holzhauer on may make you feel pretty dense. He is just so knowledgeable about just about everything. His unique strategy of finding Daily Doubles and betting aggressively has paid off big time. In a 10-day streak, he's already shattered his own record with a $131,127 single-day win.

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How to increase your bank accounts return by 2%

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How to increase your bank accounts return by 2%

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This article explains how banks are raising interest rates when they could be lowering them, bringing up points such as "..We have more money in our savings accounts than any other period in history...".
Imagine if the banks actually gave us better rates as our accounts continued to fill with more money. I feel more people would be able to afford luxury's not previously accessible to them.

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You know all that cash sitting like a slug in your bank account, earning microscopic interest? That grates on Stephen Nelson, a wealth manager at Aldrich Wealth in Carlsbad, Calif. He has better places to park that money and at least earn interest that's as high or higher than inflation:
Larry Light: So why do bank accounts pay so little?

Stephen Nelson: Household savings in the U.S. have increased from a 2005 low of $274 billion to high of $1.1 trillion lately, according to the most recent data from the Federal Reserve. Americans are stashing more cash in their checking and saving accounts than they ever have before.

When I was going up, my local bank proudly displayed the interest rates it paid on savings deposits. It was a way of showing that our family's savings was working just as hard for us as we do for it. Then the financial crisis happened in '08 and '09, and these interest rates disappeared as the Fed slashed interest rates to zero in order to stimulate the economy.

However, since 2015 the Fed has slowly increased short-term interest rates to where they stand today, between 2.25% and 2.5% per year, but have the interest rates your bank pays depositors kept pace with these rate increases? Not even close. Banks are still paying interest rates like it's 2009.

We have more money in our savings accounts than any other period in history with a rising rate environment - a good thing for savers, and yet what we earn on our cash accounts hasn't changed.

Light: Are you saying that big banks could be paying their depositors higher interest rates, but are choosing not to?

Nelson: That's exactly what I'm saying. Banks call our savings accounts low or "non-interest bearing deposits." They take deposits and invest them in short-term Treasury bonds, which are 100% risk-free and earn the spread for themselves. If you read a bank disclosure, it's all right there, buried deep in legalese.

Light: So what can savers do?

Nelson: With very little effort you can earn at least 2% on your savings by opening an online savings account. These accounts are available online and pay the rates you should be receiving from your local bank. Simply open an account and link your current bank account to it to start earning interest.

Some of the best options are: Ally Bank, Marcus by Goldman Sachs, and American Express. For example, Ally Bank's Online Savings is paying 2.20% which earns you $330 on $15,000 of cash for a year.

Light: How safe are these online savings banks and is this money tied up like a certificate of deposit?

Nelson: These accounts are just as safe as any bank account you would open at a physical branch in your town. The banks are insured by the FDIC so all deposits are insured up to $250,000 per depositor, for each account ownership category.

These deposits are not locked up like a CD, so you can access the money at any time. You usually takes one to two business days to transfer money from the online savings account bank into your checking.

Light: Can I just replace my regular bank and use these online accounts to pay bills?

Nelson: These accounts are for your savings, so you can't, and shouldn't, use them for your daily purchases. You can make as many deposits as you'd like but are limited by federal law to six transactions per statement cycle, which is about a month. This should never be an issue if you're using it as a savings account and maybe withdrawing once or twice a month.

These accounts can be used as a replacement to your savings account currently at your local bank. I would still use the checking account at your local bank for direct deposits from your employer and writing checks or making purchases.

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How To Increase Your Bank Account Returns By 2%

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You know all that cash sitting like a slug in your bank account, earning microscopic interest? That grates on Stephen Nelson, a wealth manager at Aldrich Wealth in Carlsbad, Calif. He has better places to park that money and at least earn interest that's as high or higher than inflation: Larry Light: So why do bank accounts pay so little?

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The article focused on the details to qualify for free government program that lowers their mortgage to astonishingly low rates and can reduce their mortgage payment.
Should this be considered a support program for section 8?

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New Government has officially ended another Obama era. HARP, was the most talked about refinance program across the nation. It helped over 3 million Americans reduce their mortgage payment! This has now been replaced with a new, free program! The Enhanced Relief Refinance (FMERR) is the improved version of HARP!

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The article focuses on Spotify's premium service on their app and its user growth due to exclusive offers provided by Hulu, Google, and Samsung.
Should Spotify work with others to create an item of value for the public?

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spotify now has more than 100 million paid subscribers - cnn

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Spotify now has more than 100 million paid subscribers

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Spotify has surpassed 100 million paid subscribers.

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Due to the rise in taxes, California residents are leaving to places such as Nevada or Florida. This was due to the lower costs of living, state budgetary challenges, weather, and job growth.
Should more residents in California consider moving out of state?

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Tax burdens continue to weigh on the minds of the nation's residents, as the highest-tax states saw large outflows of residents last year.

"About 0.47 percent of people have migrated out of New York, which is the highest of any of the 50 states ... it's like 40,000 people," Dolly Lenz Real Estate Managing Director Jenny Lenz told FOX Business' Maria Bartiromo, adding that many of them are moving to Florida because "the taxes are so low."

Meanwhile, the prospect of new taxes on residents is beginning to drive individuals from places they have traditionally flocked to.

California - which used to be a destination for wealthier New Yorkers - is now losing residents to states like Florida, Nevada and Texas, Dolly Lenz CEO Dolly Lenz said, as the state considers implementing an estate tax.

According to United Van Lines' Movers Study, more Americans left a number of high-tax states, like New York and Connecticut, than moved there last year.

People were migrating, on the whole, to states in the south and west, according to researchers. The reasons they cited for that were lower costs of living, state budgetary challenges, weather, and job growth, among other factors.

Here's a look at the 2018 trends for some notoriously high-tax states.
New Jersey
New Jersey saw the largest outbound moves out of any state, according to the data, with nearly 67 percent of movers leaving.

Nearly 35 percent of movers left for retirement-related reasons.

When it comes to the break down by income levels, those with incomes between $50,000 and $74,999; $100,000 and $149,999; and $150,000 or more, made up the highest proportion of move-outs.

New Jersey ranked ninth on WalletHub's list of state-by-state tax burdens, where the total tax burden is an estimated 9.86 percent of income.
Connecticut
Of the moves conducted within Connecticut last year, 62 percent were outbound, ranking it third on the United Van Lines study (behind Illinois, which is also considering implementing a number of new taxes).

About 30 percent of move-outs were decided upon for retirement reasons, while more than 20 percent were attributed to lifestyle decisions.

Those with incomes of $100,000 or higher made up the largest share of exoduses.

In terms of total state tax burden, Connecticut ranked right behind New Jersey on WalletHub's list, with the average individual paying 9.7 percent of income toward state and local taxes.

Connecticut has recently proposed broadening its sales tax, increasing its capital gains tax and imposing levies on sugary drinks and plastic bags.
New York
New York had the fourth-most individuals fleeing in 2018. About 61.5 percent of all moves were outbound.

About 26 percent of people reported moving out for retirement.

Those with low yearly incomes - below $50,000 - and those with incomes between $75,000 and $150,000 moved out of the Empire State at a high rate, as did those with incomes of more than $150,000.

New York was found to have the highest state and local tax burden of any of the 50 states, with the average individual paying nearly 13 percent of income toward those obligations.
California
California was not among the top 10 states where residents left last year.

However, the data showed that 22 percent of outbound moves were made for retirement-related reasons, compared to only 10 percent of inbound.

Those ages 65 and older made up the highest proportion of outbound moves, as did those with incomes of at least $150,000 (39 percent). Those with incomes between $100,000 and $150,000 made up the second-highest proportion of move-outs (24 percent).

On average, residents in California pay 9.47 percent of their income on state and local taxes.
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Where were people headed instead?

United Van Lines found that the top destinations in 2018 were Vermont, Oregon, Idaho, Nevada and Arizona. While Nevada charges no income tax, South Dakota and Washington - which also have no income taxes - also made the top 10.

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Americans abandoning New York, New Jersey, other high-tax states

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Tax burdens continue to weigh on the minds of the nation's residents, as the highest-tax states saw large outflows of residents last year. "About 0.47 percent of people have migrated out of New York, which is the highest of any of the 50 states ...

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The article exposes that lottery ticket winners who won $10 million or more must be named anonymous and protected by the government. Over 8 states have been trying to get the proposal passed.
Imagine winning the lottery, I would pay for my identity to be hidden for my own safety.

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A growing number of states are moving to allow the winners of big lottery jackpots to stay anonymous as privacy concerns are increasingly trumping lottery groups' wishes to publicize winners to boost sales and show that the games are fair.

Arizona could be the next state to join at least nine others with laws that let winners keep their names secret under a proposal headed to Republican Gov. Doug Ducey. Four years ago, just five states allowed anonymous winners, and a handful of others allowed trusts to claim prizes.

At least eight state legislatures considered measures shielding winners' names this year. Virginia's governor signed legislation allowing winners of $10 million or more to remain anonymous. Proposals in Arkansas and Connecticut failed, while efforts in Massachusetts, Minnesota and Oregon are still being considered.

New Mexico's governor last week axed a similar proposal, with a spokesman saying Democratic Gov. Michelle Lujan Grisham decided to prioritize transparency.

"To be sure, the governor is clear about the concerns raised by proponents, i.e., that certain bad actors could take advantage of lottery winners if their names are made public," spokesman Tripp Stelnicki said in a statement. But "New Mexicans should have every confidence in the games run by the lottery."

Arizona's governor hasn't weighed in on the proposal before him.

The Arizona Lottery took no official position, but spokesman John Gilliland said "it is important that we have that transparency, because the lottery is nothing without integrity."

"And the only way the public has an absolute guarantee of integrity as far as real people winning these prizes is to be able to know who wins these prizes," he said this week.

Republican state Rep. Nancy Barto introduced the measure, saying she wanted to protect winners from harassment. State Rep. John Kavanagh pushed for current law that shields winners' names for 90 days but said this week that it doesn't go far enough.

"After 90 days, the person is then subjected to all sorts of people hitting them up for loans, investment advisers trying to make them a client and the potential to be victimized by a burglar or, if it's a massive amount, having their kid kidnapped," the Republican said.

Balancing those concerns against the Lottery's interests in transparency isn't a close call, he said.

That's in line with a New Hampshire judge's decision last year to allow the winner of a nearly $560 million Powerball jackpot to stay anonymous. The woman signed the ticket before she realized that state law would let her create a trust to shield her identity. The judge noted that she could be harassed or solicited for money.

Trusts are allowed in at least two other states besides New Hampshire, while a policy from South Carolina's lottery board allows anonymity. The winner of a $1.5 billion ticket bought at a South Carolina convenience store last year remains unknown under that policy.

Lottery fraud is a concern. In 2017, a programmer for the Multi-State Lottery Association got up to 25 years in prison for rigging a computer program to enable him to pick winning numbers in games in Colorado, Wisconsin, Kansas, Iowa and Oklahoma between 2005 and 2011.
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The executive director of the Iowa-based lottery association, which runs the Powerball game in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands, said he understands why some states are moving toward winner secrecy.

"However, the disclosure of winner names is one way lotteries are working to keep the process transparent," association Executive Director J. Bret Toyne said. "It shows the public that everyday people are randomly winning the prizes."

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Growing number of states move to shield lottery winners

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A growing number of states are moving to allow the winners of big lottery jackpots to stay anonymous as privacy concerns are increasingly trumping lottery groups' wishes to publicize winners to boost sales and show that the games are fair.