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* Family health premiums jump 30% over five years
The average cost of family premiums for employer-sponsored health insurance in Illinois jumped 30 percent from 2003 to 2008, according to a Commonwealth Fund report.
The average family premium was $9,693 in 2003 in Illinois. It increased to $12,603 in 2008. The average premium for single coverage jumped from $3,692 in 2003 to $4,643 in 2008, a 26 percent hike, the report found.
The five-year increase averaged 33 percent across the nation, ranging from a high of 45 percent in Indiana and North Carolina to a low of 25 percent in Michigan, Texas and Ohio.
* Illinois jobless rate rises to 10.4 percent
Illinois’ jobless rate rose to 10.4 percent in July even though the pace of job losses is slowing.
That’s up slightly from 10.3 percent in June.
The Illinois Department of Employment Security released the new figures Thursday. They show the state lost another 13,000 jobs in July, bringing the number of unemployed statewide to 692,500.
* Nearly 14% of Illinois mortgages behind or in foreclosure
Nearly 14 percent of home mortgage loans in Illinois were in foreclosure or behind on payments at the end of the second quarter, up from 9 percent a year earlier, according to a report from the Mortgage Bankers Association.
Past-due loans hit 9.2 percent, up from 6 percent a year earlier. The percent of loans in the foreclosure process stood at 4.7 percent, up from 3.1 percent.
Illinois ranked 14th in delinquencies and 17th in foreclosures started.
* Foreclosures rise, driven by poor economy and joblessness
* Caterpillar machinery sales to retailers fall in July
Machinery sales for the three months through July fell 48 percent from a year earlier, compared with declines of 47 percent in the period ending in June and 43 percent in May, Peoria-based Caterpillar said in a regulatory filing.
* Deere posts 27 percent decline in third quarter profit
* City plan would move Lake Shore Drive east
* Chicago seeks $800 million more in federal stimulus funds
* Daley won’t judge aldermen on expenses
* School supplies: Teachers, parents shoulder a rising share of the costs
* A look at child obesity and elementary school lunches [IL Childhood Obesity Among Highest in U.S.]
* Chicago schools are sweet on dessert
Illinois suffers from the fourth-highest level of childhood obesity in the nation, with Chicago kids checking in heavier than the rest of the state. Yet, while many school districts are phasing out sweet treats, Chicago Public Schools officials continue to say, let them eat cake.
* What’s just compensation for wrongful jail time?
A McHenry County jury refused late Thursday to award damages to a Richmond man sentenced to death after he was wrongly convicted of the 1993 murders of his parents.
* Burr Oak still shuttered, out of cash
But Szabelski didn’t return multiple calls Thursday, leaving more questions than answers.
* Will County prosecutor placed on leave following sexual assault allegations
* Will County restricts outdoor burning
* RTA raises fares to keep paratransit service going
* Shutdown of RTA’s paratransit service averted
* CTA sidelines the purchase of 140 buses; cites lack of state funds
The Chicago Transit Authority is delaying the purchase of 140 accordion-style hybrid buses because the state has not provided promised funding to complete the $122.7 million deal, officials said Thursday.
* County has new CFO, CTA has new board member
* Quinn names Grimshaw to CTA board
* Stroger names new Cook County financial chief
* Flowers’ recently retired deputy back at school office
* Tribune Co. in final inning on Cubs deal
Tribune Co. is expected to seal its deal to sell the Chicago Cubs to the family of bond salesman Tom Ricketts by early next week, according to a person close to the transaction.
posted by Mike Murray
Friday, Aug 21, 09 @ 9:11 am
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Did you see the Daily Herald today. Lawsuit against tax board tossed.
Comment by Boscobud Friday, Aug 21, 09 @ 9:14 am
Despite a slew of bad economic news, we haven’t heard Governor Quinn back off on his plan to raise the state income tax on the middle class. So, those folks who are behind on their mortgages, who fear (and are saving against) unemployment, or who just got back into the labor force after a spell of unemployment, and those whose family budgets are getting hit again and again by higher health insurance costs–the guv still wants your money.
Meanwhile, we haven’t heard much about those cuts the governor said he was making. The union seems unwilling to make any concessions, predictably, but that doesn’t seem to have upset Quinn much.
Maybe his predictions of fiscal doom were a bit inflated. Or maybe he can’t count. We should certainly find out before we pony up more billions for one of the country’s most corrupt state governments.
Comment by Cassandra Friday, Aug 21, 09 @ 9:20 am
–The average cost of family premiums for employer-sponsored health insurance in Illinois jumped 30 percent from 2003 to 2008, according to a Commonwealth Fund report–
That’s a real scoop there. I’m sure average schmuck workers and small business owners will be surprised and alarmed. Perhaps this new and startling fact will somehow enter the debate on national health care.
Up til now, they probably thought their wages and profits were being swallowed up by the proposed Death Panels that are looking to put Mom and Pop insurance companies out of business with a public option.
I wonder, do the Death Panels swoop in on unmarked black helicopters, and are all their deliberations conducted in secret Masonic rituals?
You know who I’m talking about. Them.
Comment by wordslinger Friday, Aug 21, 09 @ 9:24 am
Bosco- was and as of now is still not in their online paper…
Comment by Mike Murray Friday, Aug 21, 09 @ 9:25 am
Daley won’t judge…. Talking about that issue, here is another article about alderman expense accounts:
http://www.chicagotribune.com/news/local/chi-alderman-expenses-21-aug21,0,217564.story
Comment by Pre Friday, Aug 21, 09 @ 9:29 am
My wife is a school teacher, and in some years, I feel like $500 may be an underestimate.
Comment by Niles Township Friday, Aug 21, 09 @ 9:33 am
First when you tap the vaunted The Dome link to the story reporting the replaced for TugBoatAndy McKenna you get a link to music reviews for the state fair…Guess the Brady Gag Order extended to the SJR.
Next the hike in health insurance ratess only continues to confim what the early 90’s health care debate predicted….The current health care system is unaffordable, can’t be sustained and saps cash that could be used for RAISES, new equipment, marketing, RAISES, expanded workforce , RAISES ….. get the point
But lets get in that big circle….Fire, Aim, Ready
Comment by CircularFiringSquad Friday, Aug 21, 09 @ 9:35 am
Wooooo scary……. health care premiums are up 30% over 5 years.
My property taxes went up more than that over the same period. Where is the garment rending article abut that.
The incessant scare mongering is getting tiresome.
Comment by Plutocrat03 Friday, Aug 21, 09 @ 9:47 am
Mike,
I think I posted the link right? If not I did see it online and in the Northwest suburbs paper page 4.
http://www.dailyherald.com/story/?id=315224
and in my paper page 4.
Comment by Boscobud Friday, Aug 21, 09 @ 9:49 am
Eh, Cassandra, while he isn’t beating on your door yer, he still plans to beat on mine the first week of September. Think your, who who you claim to represent, pennies are in worse shape than mine are?
Comment by Cindy Lou Friday, Aug 21, 09 @ 9:51 am
The point is Pluto, they were already high to begin with, they keep going up and they’ll keep going up.
The study doesn’t even talk about the employers’ share. Health care costs are killing small businesses. You know what’s scary about it? They’re scared to make new hires because health-care is an X factor they can’t budget. Try to make a payroll every two weeks and you’ll understand.
Comment by wordslinger Friday, Aug 21, 09 @ 9:53 am
It would be interesting to see the name of the Will County prosecutor that was placed on leave. I find it hard to believe that this guy would pull off a bone-headed stunt like this since both the accused and the victim were lawyers. They couldn’t have both been that drunk that they wouldn’t have realized the enormous consequences of this story to their future legal careers? Then again, I think of John Edwards and the fact that a legal degree doesn’t necessarily mean that you are very bright.
Comment by Beowulf Friday, Aug 21, 09 @ 10:11 am
Originally posted by Wordslinger:
“The study doesn’t even talk about the employers’ share. Health care costs are killing small businesses. You know what’s scary about it? They’re scared to make new hires because health-care is an X factor they can’t budget. Try to make a payroll every two weeks and you’ll understand.”
In my own experience (and I’m part of the buying team for a small business), the study, at least for us (under 50 people in a PPO group) was valid up until June, 2007. We were a defined benefit PPO, $250 deductible, 100% major coverage - and there costs (and insurance company coverage headaches) were rising at that rate cited in the article.
We switched in 06.2007 to a PPO high deductible plan, with HSA (Health Saving Accounts) for all employees, annual minimum employer contributions of $1200 a year to each (and that’s the same for ALL of us). Guess what, overall premiums dropped right at 34.75%, and we took most of that savings & put it into each person’s HSA. And I got to tell you, in least with our experience, the heat level has gone down, and our folks seem to like the fact that more of the health care decision making has been put back in their hands. And I don’t work for, or am affiliated with any insurance company.
Guess what I’m saying is, the story makes sense if it is narrowed to reflect only certain types of health insurance plans, but certainly does not match our current real world experience. I tend to look at this ‘article’ as being “true, but incomplete, and as a result, misleading.”
And btw, have been successfully making those biweekly payrolls for a long time now.
Comment by Judgment Day Is On The Way Friday, Aug 21, 09 @ 10:37 am
J-Day, your premiums went down because your employees’ are assuming more risk, correct?
Comment by wordslinger Friday, Aug 21, 09 @ 10:46 am
Same arguments apply to more and more taxes. They are already high, they kill jobs and there is no respite in sight.
It is stupendously naive to believe that an expansion of the government further into health care will result in any cost savings to the consumer. History proves the opposite.
What makes you believe that I don’t have a payroll to meet every week? It will be news to my staff.
Companies do not want to add staff for a variety of reasons including uncertainty of what will happen when cap/trade taxes start kicking in.
Comment by Plutocrat03 Friday, Aug 21, 09 @ 11:05 am
Pluto, I’m under no illusions that the cost of health care will be going down ever. People are living longer and healthcare continues to become amazingly more sophisticated, and hence, expensive.
I think (hope) the effort is to try to stamp down the spike and expand coverage.
And if you’re offering your staff good healthcare and aren’t rattled by increases, good on you, brother. Don’t hide your light under a bushel.
Comment by wordslinger Friday, Aug 21, 09 @ 11:29 am
My problem is that health care costs are used as a scare tactic. Any time the government gets involved the costs go nutty.
I am as worried by every tax that goes up and up. Property tax, workman’s comp, sales tax, State and federal income taxes. These including health care costs are all a danger to all continuing enterprises.
Do yourself a favor and read Tom Daschle’s book on what his vision is for governmental health care. You need to hear it in his words, not mine. Ultimately it includes denial of services, rationing and governmental health boards, (like they have in Europe) who dictate what therapies your health practitioner is allowed to offer.
Remember the phrase from movies of the 30s…..I’m from the government and I’m here to help you…… It still brings fear into the hearts of the citizenry.
Comment by Plutocrat03 Friday, Aug 21, 09 @ 11:55 am
“J-Day, your premiums went down because your employees’ are assuming more risk, correct?”
Well, of course. That’s how ALL insurance works - if I get the insurance company to cover more of my risk (auto, homeowner, liability, any type), well my costs for the insurance is going to be higher.
But there’s a difference with these HSA’s - as far as I can tell. We’d rather (and did) give virtually 100% of the money we saved back to the employee’s in corporate allocation to their HSA accounts. I’m comfortable with that (putting the $$$ back into their hands rather than the insurance company), and more importantly, they (the employees) seem to like it a lot more. Works for me.
Comment by Judgment Day Is On The Way Friday, Aug 21, 09 @ 12:07 pm
Originally posted by Plutocrat03:
“I am as worried by every tax that goes up and up. Property tax, workman’s comp, sales tax, State and federal income taxes. These including health care costs are all a danger to all continuing enterprises.”
That’s the story - it’s not just health care. We’ve found that there are many, many options for dealing with health care costs - but from my own small business perspective, it’s all the government uncertainty that’s just killing us.
We’d love to hire another full time software person (and that’s certainly NOT a “Would you like fries with that” type of job), but we’re just not ready to take that type of financial risk depending upon the craziness coming out of the government over potential tax changes. Probably going to have to be a Contract person.
And the banks still aren’t lending, especially to small business. You put all that out there, and it’s just not worth taking the risk to employ new full time staff.
And that bothers me. And all we get out of our electeds (both parties) is more and more talking points.
Comment by Judgment Day Is On The Way Friday, Aug 21, 09 @ 12:20 pm
About the spike in IL unemployment in July, compared to the decreasing rate nationally:
At least 2,000 jobs were lost directly b/c of this state’s ineffective leadership and drastic cuts causing shut downs and layoffs of social service providers. See Progress Illinois’ map of cuts and those numbers.
My state job is still at risk. I am personally downsizing, moving into a more affordable place, and spending little to nothing on non-essential items. All contributing to the downward spiral of the IL economy. GA geniuses, way to go! What kind of state will you, Speaker Madigan and your cohorts, and Quinn, be presiding over?
Comment by state employee Friday, Aug 21, 09 @ 12:27 pm
Oh, and I forgot to mention that as a caseworker in Food Stamps and Medicaid, demand is way up because of the downturned economy, the state hasn’t hired new employees for over 2 1/2 years, people leaving and retiring in droves and because of high stress, and. Our caseloads are at least 1,000 each, and as many as 2,000+ due to so few workers. What will the caseloads be after the layoffs??
And even if the state shut down tomorrow for the whole year, the budget crises would not go away. NO AMOUNT OF CUTS CAN SOLVE THE BUDGET PROBLEMS. Revenue will need to be raised and it’s time the legislators face the music. Raise taxes fairly and progressively. Other states’ rates are 8-11% on wealthier people. Here we have 3% flat tax still. So unfair and burdensome on those least able to pay.
Where did all the money go??? It’s in the hands of those wealthy people. Pay your fair share!
Comment by state employee Friday, Aug 21, 09 @ 12:33 pm
J-Day, all due respect, it’s no great trick to reduce your insurance cost by increasing your risk.
I don’t envy your job at all, by the way. It’s gotta be tough these days.
Comment by wordslinger Friday, Aug 21, 09 @ 1:03 pm
You’d think with the city of Chicago’s financial woes Daley would be critical of alerman waste of taxpayer dollars.
It’s REALLY time for him to go.
And, it’s time for a real serious contender to start making moves–a vrey good move that will resonate well is reducing the number of alderman to make city hall more efficient and in line with other major cities. If you are a good candidate with good credintials and you propose something like that, you’ll be elected mayor of Chicago no question!
Hopefully Vallas will be able to finish what he’s doing in New Orleans and avial himself to challenge Mayor Daley in a couple of years.
Comment by okay then... Friday, Aug 21, 09 @ 4:27 pm