News Business Sports Entertainment Life Obituaries Opinion
Jobs Homes Cars Classifieds Shopping
Local Bloggers Cheap Tech Eco-Confessions Faceoff Furst Draft Heard on the Street Med City Movie Guy Pulse on Health Political Party

Search PB Blogs

Loading

Categories

2 posts categorized "Insurance news"

November 24, 2014

Bandel Road Business Center sold for $1.6 million

A commercial center on Rochester's Bandel Road recently sold for almost $1.6 million as an investment for the future.

Vance Prigge, majority owner and president of Atlas Insurance Brokers, bought the Bandel Road Business Center at 5721 Bandel Road N.W. from local architect David Kane. Its current tenants are Kelly Services and Thrivent Financial. There's about 2,000 square feet still available for another tenant.

64585318ee614fa1aaade37b6bf6b76cPrigge describes the purchase as an investment with an eye to possibly use the building as a home for Atlas Insurance in the future. However, he has no immediate plans to make any moves or change anything about the building. He bought the property through his corporation, Centurion Blue Holding, LLC.

Commercial Realtor Scott Hoss handled the purchase for Rochester's Paramark Real Estate Services. Gary O’ Conner from Security State Bank of Wanamingo handled the financing.

The center was built by Rochester developer Jeff Brown in 2007.

September 09, 2013

IBM to drop 110,000 retirees off its health insurance plan

This is certainly an interesting shift that should impact a large number of Rochester retirees.

On Dec. 31, IBM is dropping all of its Medicare-eligible retirees from its health insurance coverage.

Maybe I should check with the Rochester IBM retirees group for some comments about this. Wonder if anyone would say anything on the record.

Here's some from an article by Spencer E. Ante of the Wall Street Journal:

International Business Machines Corp. plans to move about 110,000 retirees off its company-sponsored health plan and instead give them a payment to buy coverage on a health-insurance exchange, in a sign that even big, well-capitalized employers aren't likely to keep providing the once-common benefits as medical costs continue to rise.

The move, which will affect all IBM retirees once they become eligible for Medicare, will relieve the technology company of the responsibility of managing retirement health-care benefits. IBM said the growing cost of care makes its current plan unsustainable without big premium increases.

IBM buildinglogo-----

In notices signed by Chief Health Director Kyu Rhee, IBM has told retirees in recent weeks that to keep receiving coverage, they will need to pick a plan offered through Extend Health, a large private Medicare exchange run by New York-based Towers Watson & Co.

-----

"Cost increases under our current retirement group health care plan are no longer sustainable for you," IBM said in the notices. "Health care costs under IBM's current plan options for Medicare eligible retirees will nearly triple by 2020, significantly impacting your premium and out of pocket costs," the notice said.