DBusiness Day by day Update: Survey: Health Insurance Premiums Up 4% in 2021, and More


A survey by ASE in Troy shows median medical insurance premiums increased 4 percent in 2021. // Stock Photo

Our roundup of the most recent news from metro Detroit and Michigan businesses in addition to announcements from government agencies, including updates in regards to the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.

Survey: Health Insurance Premiums Up 4% in 2021

Median medical insurance premiums increased 4 percent in 2021, based on ASE in Troy’s 2022 Health Care Insurance Advantages Survey.

The annual survey, covering Michigan employers, examines the premiums, deductibles, and co-pays of employer-sponsored health plans in addition to wellness advantages and value control strategies.

In keeping with this 12 months’s sample, median premium increases were 4 percent in 2021. Increases for the 2022 plan 12 months were 5 percent.  Median increases for 2023 are projected to be 6 percent.

A majority of the participants (63 percent) reported offering two to 3 forms of health plans.  Essentially the most-utilized plan type continues to be Preferred Provider Organization Plans (PPO) with 87 percent of corporations offering this feature.

Thirty-seven percent of the sample of participants report self-funding their health plan, down barely from a 12 months ago.  Nevertheless, 69 percent of huge corporations (those with 500 or more employees) reported being self-funded.

Latest to the survey this 12 months, employers were polled on the prevalence of opt-out incentives for those employees who select to not elect coverage under the employer-sponsored health plan.  Just a 3rd of employers surveyed offer that profit. Annual opt-out incentives averaged $1,824.

The three-tiered price structure (generic, preferred brand, non-preferred brand) for prescription drug plans were the most well-liked amongst traditional PPOs with 49 percent of non-unionized organizations reporting this structure, down barely from a 12 months ago.  Five-tiered structures followed because the second most prevalent option at 31 percent. This was a rise of nine percentage points from a 12 months ago.

Median annual employer contributions to Health Savings Accounts (HSA) remained unchanged from the last 4 years with an worker only contribution totaling $500 and an worker + family contribution totaling $1,000 for each union and non-unionized organizations.

The number-one strategy that employers planned to implement continues to be increasing education regarding health plan features and costs (14 percent). Implementing or expanding wellness programs (6 percent), changing providers (4 percent), and increasing the staff cost share (5 percent) top the list of strategies that corporations are considering but have yet to set a timeline for.

“With worker retention top of mind for many employers, they’re hesitant to make changes to their health care plans,” says Mary E. Corrado, president of ASE. “As a substitute, employers proceed to satisfy their cost challenges by educating employees on their health care plan features and being good consumers of health advantages.”

To buy the complete survey report, visit here.

Black-led Business Bootcamp to Offer Assistance to Detroit-based Black Entrepreneurs

Greater Detroit-area Black entrepreneurs now can enroll in the brand new business bootcamp called B3 Elevation: Branding and Constructing Black, organized by DP Marketing Strategies, Inc. a Black woman-owned promoting agency founded in Detroit, in collaboration with JPMorgan Chase’s Advancing Black Pathways. The applying period ends Aug. 22.

The ten-week program will include small business training, education on branding tools, and revenue-generating marketing services, in addition to a $5,000 grant award to assist local small business owners scale long-term. As well as, cohort members will find a way to strengthen their knowledge and skills in these 4 areas:

  • Creditworthiness
  • Digital presence (web, social media, and public relations).
  • Business certifications.
  • Protection from a legal fallout.

The cohort will include 25 select Black entrepreneurs based within the greater Detroit area who’ve operated for no less than three years and generate $100,000 in annual gross revenue or more. Each participant will join 10 training and training sessions from Sept. 7 to Nov. 9. Upon completion of this system, each participant will receive as much as $5,000 in grant funding to speculate of their business.

“B3 Elevation is really a passion project for me, that I do know helps to enable Black-owned businesses to construct capability, operate efficiently and compete effectively within the marketplace,” says Diane Palmer, CEO of DP Marketing Strategies and founding father of B3 Elevation. “JPMorgan Chase’s commitment to accelerating financial outcomes for Black entrepreneurs through Advancing Black Pathways made the firm a really perfect partner for this bootcamp.”

JPMorgan Chase launched Advancing Black Pathways in 2019 to assist the Black community chart stronger paths toward economic success and empowerment.

“As a firm, we’re committed to growing local Black-owned small businesses,” says Bre Mills, vice chairman and Chase senior business consultant based in Detroit. “We’re so proud to share and support the mission of the B3 Elevation program. Our goal is to assist more Detroit entrepreneurs take their business from where it’s to where it deserves to be – because our city relies on them.”

Area people partners helping to construct awareness and support for the B3 Elevation opportunity within the Greater Detroit area include:

  • First Independence Bank.
  • Michigan Small Business Development Center – Southeast Region
  • Detroit Urban League
  • Michigan Minority Supplier Development Council
  • SCORE of Southeast Michigan
  • Detroit Development Fund
  • Black United Fund of Michigan

To use for this system, visit B3elevation.com.

Husband of Higher Made CEO Cathy Gusmano Passes Away

Higher Made Snack Foods last week announced the death of James “Jim” Gusmano, husband of Chairwoman and CEO Cathy Gusmano.

Gusmano was 80 years old and lived in Grosse Pointe Shores. He had an extended struggle with spinal issues and in lieu of flowers the family has asked that every one donations be made in his name to the National Spinal Health Foundation.

“He was a splendidly kind man, and an excellent dad,” says Phillip Gusmano, his son and a Higher Made associate. “He left us all with many great memories that will likely be treasured so long as we live. We’ll all miss him and his infectious smile.”

Van Andel Institute Rolls Out Curiosity on Wheels to Metro Detroit Schools

The Van Andel Institute for Education (VAI) in Grand Rapids is introducing an expanded catalog of in-person science, technology, engineering, and arithmetic (STEM) programs available to host at K-12 schools in metro Detroit and across the complete state for the 2022-23 school 12 months.

The next programs are actually available in VAI’s expanded catalogue:

Curiosity on Wheels: Curiosity on Wheels takes inquiry-based science to latest heights as participants think — and act — like scientists by conducting hands-on, fun-filled STEM investigations in a full-on event setting. Whether it’s addressing science standards, enhancing thematic units.VAI can create and deliver an event to satisfy a faculty’s content, time, and budgetary needs.

Classroom Field Trips: VAI’s Field Trips immerse classrooms of scholars — and their teachers — in learning science through inquiry. Students will conduct unique, grade-specific investigations and take part in hands-on discovery. As well as, when schools come to VAI— either in person or virtually — participants will speak with VAI scientists and watch them in motion on the Institute’s demonstration lab. All topics are aligned to Next Generation Science Standards (NGSS).

VAI says it never wants cost to be an obstacle to great learning. To learn more about VAI’s Field Trips and Curiosity on Wheels, call 616-234-5528.

For more information, visit vaei.org.

Marygrove Conservancy Hosts Summer Block Party

The Marygrove Conservancy hosted a Summer Block Party Aug. 13 on the Marygrove campus (8425 W. McNichols Road) in Detroit.

The Block Party featured local live entertainment, campus tours, free food for the primary 500 guests, activities for the entire family, community resources, and more.

Highlights included laptop giveaways from Human IT, a performance from the Detroit Youth Choir, the Michigan Humane Society’s pop-up vaccination clinic, and greater than 40 Marygrove tenants and community-based businesses and organizations.

This was the primary major public event on Marygrove’s campus in greater than two years.

The Block Party also served as a final external enrollment push as The School at Marygrove welcomes its inaugural classes of kindergarten through second-grade students for the 2022-2023 school 12 months.

Visit here for more information.


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