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| May 15, 2008 |
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Survey: Health premiums up 7 percent
DENVER -- Overall health-care costs in Colorado and Wyoming rose by 12 percent in 2008 over 2007 levels, but average health insurance premiums have gone up only 7 percent thanks to employer contributions, according to the Mountain States Employers Council's 2008 Health and Welfare Plans Survey.
The survey of 697 Colorado and Wyoming companies showed that employers continue to cover the vast majority of employees' health premiums through employer-offered health plans. The survey found that 85 percent of an employee's premium cost is paid by the employer.
"Health-care costs continue to be a major area of concern for employers," said Michael Severns, MSEC president and CEO. "However, employers continue to pay for the majority of health-care premiums on behalf of their employees."
The survey also showed interest by employers in offering consumer-driven health-care plans as an option in employees' benefit packages, with 51 percent saying they were offering or considering offering plans such as Health Savings Accounts or Health Reimbursement Accounts.
The survey found the number of Colorado and Wyoming employers offering HSAs as an option to employees has consistently increased over the last three years, with 18 percent of those surveyed in 2008 offering them compared to 15 percent in 2007 and 7 percent in 2006.
The number of employers offering HRAs stood at 8 percent in 2008 compared to 6 percent in 2007 and 4 percent in 2006, according to the survey. |
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Weld County foreclosure rate second-highest in state
New foreclosure filings in Colorado were up by 23 percent during the first quarter of 2008 compared with the same period in 2007, with Weld County having the second-highest rate in the state with one filing for every 102 households.
A report by the state's Department of Local Affairs Division of Housing released May 15 shows Weld County topped only by Adams County with one filing for every 86 households. The state average is one filing for every 159 households, the report said.
Among Front Range counties, Douglas and El Paso experienced the most new growth in foreclosure filings, while Boulder and Larimer counties had the lowest rates, of one filing per 449 households and one filing per 220 households respectively.
Foreclosure rates for the mountains and Western Slope were generally much lower than the Eastern Plains and Front Range, according to the report.
Foreclosure numbers are likely to remain high for the rest of the year, according to Kathi Williams, director of the Colorado Division of Housing. "Adjustable rate mortgages will continue to reset through 2009, and the cost of living looks like it will continue to increase this year," she said. "That will likely mean we won't see any drop in foreclosure numbers this year."
Larimer County had a total of 1,588 foreclosure filings in 2007 and 487 in the first quarter of 2008. Weld County had 2,877 filings in 2007 and 813 through the first quarter of 2008. |
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Colorado No. 9 on FBI's mortgage fraud list
WASHINGTON, D.C. -- Colorado placed No. 9 on a list of the top states for mortgage fraud compiled by the Federal Bureau of Investigation.
The FBI's 2007 Mortgage Fraud Report showed mortgage fraud suspicious activity reports referred to law enforcement up 31 percent during the year. The total dollar loss associated with the reports is unknown, the FBI said, but just 7 percent of the 46,717 reports did have a specific dollar value that totaled more than $813 million.
"This $813 million loss denoted in this report is just the tip of the iceberg, reflecting only a small percentage of financial damage suffered by victims of mortgage fraud," said Kenneth Kaiser, assistant director of the FBI's Criminal Investigative Division.
The top 10 states for mortgage fraud in 2007, in order, were: Florida, Georgia, Michigan, California, Illinois, Ohio, Texas, New York, Colorado and Minnesota. |
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national news
Icahn to fight Yahoo to accept Microsoft bid
NEW YORK (Reuters) - Financier Carl Icahn on Thursday launched a proxy battle to force Yahoo Inc to reopen buyout talks with Microsoft Corp , saying the Yahoo board had acted
General Electric looks to sell appliance unit: report
BOSTON (Reuters) - General Electric Co is looking to sell its appliance unit in an auction that could bring in $5 billion to $8 billion, The Wall Street Journal reported on its Web site on Wednesday.
Chicken industry may face $8 corn: Pilgrim CEO
CHICAGO (Reuters) - The U.S. chicken industry, which has been cutting production in reaction to higher feed costs, may have to contend with even higher feed prices this year, Pilgrim's Pride Corp Chief Executive Clint Rivers said during a webcast presentation on Thursday.
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