Innovative Staffing Inc. Announces Record Low Healthcare Premium Increase
Utah’s Average Healthcare Premium Increase Trends 15 Percent per Year
Salt Lake City, UT- 9/18/07- Innovative Staffing Incorporated (ISI), a premier human resource outsourcing provider, today announced a record low healthcare premium increase for its clients and employees of 1.1 percent for the 2007 to 2008 term effective in October. ISI’s fully-insured group policy healthcare rates are extremely competitive compared to Utah’s average healthcare premium, which trends an increase of 15 percent per year.
“As healthcare premiums continue to rise with no apparent end in sight, we are thrilled that the rate we’ve negotiated for our clients remain exceptionally low,” said Michelyn Farnsworth, CEO of Innovative Staffing. “We have been able to negotiate such phenomenal rates for our clients because of our excellent relationship with our healthcare carrier and the open lines of communication we’ve established with them.”
As healthcare rates continue to rise across the country, ISI is committed to providing the lowest possible rates for its clients. A report issued by McKinsey & Company estimated that consumers’ out of pocket healthcare costs could increase 68 percent to $420bn by 2015. ISI continues to combat this trend by saving its client’s business and employees over $273,783 in health care premiums without tweaking any benefits. Over the past six years, ISI’s annual increase averages 8 percent, which is significantly lower than the average national increase of 11.2 percent.
“Typically when companies are able to negotiate a lower healthcare increase, it compromises savings for employees in other areas by raising premiums and copays,” said Farnsworth. “However, we are thrilled at ISI because our clients will experience a true savings, and will not be affected with higher costs in any other way.”
About Innovative Staffing, Inc. Based in Salt Lake City, Innovative Staffing Inc. (ISI), was founded by leading professionals with many years of experience in the Professional Employer Organization (PEO) industry. Since its inception in January 2000, ISI has quickly emerged as Utah 's expert in human resource administration. ISI provides businesses with comprehensive, customizable and cost-effective payroll, tax and benefit administration, government compliance, and risk management services, for all types of businesses. ISI's commitment to its clients is proven by their outstanding client retention of over 95 percent. ISI maintains an ongoing commitment to ethical professionalism, which includes a membership in the National Association of Professional Employer Organizations (NAPEO).
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