Health Care Premiums Expected to Increase Again.

SimCo Services
2829 W. Henrietta Rd.
Rochester, NY 14623

Health care premiums are anticipated to rise once again by 8% according to the latest article published by Kiplinger.com.

http://www.kiplinger.com/businessresource/forecast/archive/health_care_premiums_to_rise_next_year_080711.html

"It marks the sixth straight year that the rise in premium hikes has slowed or held steady after peaking in 2003 at 14%." reported Kiplinger.

The slowing and leveling of the hikes is unfortunately temporary as the report anticipates rates well in the "double digits" after 2010.

They site each of the following as primary pressures:

1.) The stress created by the creation of new health care facilities

2.) The stress created by employers paying increasing amounts for "preventative messures"

3.) The demand of aging "Baby Boomers"

4.) The ever increasing portion of debt created by the uninsured and the correlation to business owners.


-The SimCo Team

SimCo Services' New Website is LIVE!

SimCo Services
2829 W. Henrietta Rd.
Rochester, NY 14623
(585) 750-3246
www.simcoservices.com

SimCo Services' "New" website is now live. Check it out at www.simcoservices.com!

Enjoy

-The SimCo Team

Harvard Business School affirms SimCo Service's Philosophy of Company Benefit Structures

SimCo Services
2829 W. Henrietta Rd.
Rochester, NY 14623

SimCo Services: Harvard Business School Professor Michael E. Porter in a recent Harvard Working Knowledge piece affirmed the philosophy of SimCo Services. In the publication Dr. Porter discusses his findings concerning how Small and Medium businesses manage health costs. Much like SimCo Services' philosophy Dr. Porter explains companies that manage cost by reducing benefits "bear the cost of poor health in the form of sick days, absenteeism, reduced productivity at work, and early retirements of skilled contributors." Unfortunately, he explains there is little control that these companies have over the rapid rate at which health premium changes, but that there are some basic steps that a company can take to lessen this burden.

He explains;

"First, the best way truly to reduce health care cost is to improve its quality—better diagnoses, more timely treatment, less invasive methods, getting the right treatment to the right patient, fewer complications, and so on.

Second, employers need to directly engage in improving the structure of health care delivery, and thus its quality.

Third, employers need to drive outcome measurement throughout the system. Business leaders know that what is measured will improve.

Fourth, employers must accelerate change in reimbursement to link financial success to clinical success."

At SimCo Services we have been recommending what is right for our clients since our inception over 4 years ago. The points made by Dr. Porter speak to our message and speak to the change that we are trying to create. The future of America's work force is only as secure as the individuals who are able and confident to make informed choices about how to correctly structure and provide benefits. We are here to make those choices much easier!

-The SimCo Team