Northwest Herald from Woodstock, Illinois • Page 26

P0 2 CLASSIFIED NORTHWEST HERALD Friday. December 22. 1989 BUSINESS Now York Stock Exchange issues Health plans in Seminal state NCW YOUR TtMretfty mHsmI priON 14V tk IVk 17 Ik 11 11111 111 11M 4 1444 1443 7 6451 11 Ml 10 441 0 1011 OaalPal 160 Oklald 1.00 Okiaal 1.40 our ONIOK 1.40 OragCa Ocyi 1.10 OaeaC Oilerd .00 II 1111 14V ft 10 1701 11H ft It 117 lltk 11 1141 I4H 4k 11 111 1144 ft 41 II 74t ft 1111 44V ft 010 14ft ft 11 10 II 16v tk 41V IV 114k tk lltk tk lltkt Ik 4144 4' 44 4Vt ft 4V 117 11 0M 01 II 1070 0 II 111 11 111 14ft Ik OH 41ft 1 1014 Ik PdNM l.ll Fallal PtBtOy .01 PCepHd PatCkla 1.0 Plalala FolPe PlWak ol.ll Plaatla .70 Plgkioi .10 PlaPio 1.04 laOea Pltiat .14 PtklllO) PaidM 1 PiplMa 1.10 O.TE t.ot Oaaaalt 1.10 OaaCrp .00 Ooaeteh OaDya 1 Qenll 1.00 QaHaaa .14 Onlne! .10 OnMllle 1.10 OMalr al OM I OPU t.10 anllgnl 1.10 7 4441 I0H 111 IM 141 lltt 11 1440 HW Hk I 1017 1144 1I1MI 44H 1H 11711 1044 S1147 1144' 11 141! lltk 4k 101 1-11 11 1140 401k Ik 101100 111 -f OHIO 71 Ik 1104 lltt Ik 0 till Ilk 11 1170 47H- 14 1101 111k 1 11 looo lltt 11 11141 114k tk 17 1777 171k tk 10 1107 1014k 14 4411 1144 Ik 11 1100 101H 1 1 71 044 14 100 11 11 10201 4llk 4 17 1027 lift 110100 I4tk- Ik 111101 4144 Ik 10 1010 41k 40 000 11 14 1411 17 tk 11 07 17 kt 14 4041 1114 44 la 1.4t tit 1.11 kl.lt .14 111 1.11 t.toa .10 .00 1.71 i.ii 1.4k I. al.il .41 II. 11 1 1.11 .4 1.M 1.11 .10 .11 44k 10 1.01 1.00 1 4.10 It 14 404 ft 11V 4k 114k 114 44V 44 0114 ft 1ft 14 104k 1ft 71ft ft 414k ft 644 tk 44 474 7ft ft 47V ft 4(14 14 17 3117 17 1411 II 4114 141 1711 1 1010 II 1177 14 II 11 1011 II 1141 I 1221 11 101 II 1161 II 141 I 111 7 1164 II 417 uenoee QaPaa OtkPd 1(14 11-1 AM.

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"But we're not willing to take on the responsibility for other businesses." More common 1b a move to gently push workers into what is being called "managed health care" a trend that sounds the death knell for traditional health insurance. Pacific Bell in 1991 will replace its traditional plans with A "point of service policy" that will charge workers a minor fee if they see a physician on the company's approved list, but 30 percent of medical bills if they see physicians off the list. Chevron is experimenting with the idea in Houston and is considering expanding it nationwide in 1991. So far, its experience indicates the policy succeeds at encouraging people to use company-selected doctors. In Houston, 60 percent of the oil company's workers were on traditional health plans where they paid 20 percent of bills.

The Texans resisted the notion of joining a health maintenance organization, which offers a limited group of physicians at a lower cost, says Alex Ross, manager of benefits. But once on the new plan, most workers opted to use company-approved physicians, hospitals and the discount pharmacy, Wal-green's, for minimal costs of $10 a doctor's visit. Only 30 percent of employees stuck with their own physicians, and they paid 30 percent of bills for the privilege. Thus, Chevron expects to shave up to 6 percent a year off rising health costs. One of the most important things this new type of policy accomplishes, health plan managers say, is it puts all workers the healthy and the sick under one policy.

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The 1990s are bringing patient payments of 30 percent or more, restrictions on family coverage, and an ever-narrowing field of policies to choose from in the first place. "If choice is important to you, you're going to have to pay a lot for it," says Neil Austin, manager of Pacific Bell Co. health plans. 'The overall trend is limiting choice." The reason: health-care costs are rising at triple the rate of inflation. Stunned companies are scrambling to find ways to reward cost-efficient physicians and hospitals, and penalize the rest.

The United States will spend about $647 billion on health care in 1990. Private insurance rates rose an average of 20 percent this year; rates for cheaper health maintenance organizations rose 17.2 percent. "It's bad. It's killing us," says Karen Brigham, a health policy researcher for the U.S. Chamber of Commerce.

A multitude of causes are fueling the rising costs. Among them: High-tech medicine, such as organ transplants, is becoming common. Nearly 13,000 transplants were done in the United States in 1988, many of them at a cost of $100,000 to $200,000 each. Physicians are increasingly ordering diagnostic tests and exploratory surgeries to protect themselves from malpractice lawsuits. Health and Human Services Secretary Louis Sullivan this year estimated 25 percent of the medical procedures performed were unnecessary.

And Americans, urged for two decades to seek early treatment, are taking that advice and going to their doctors more often. The bottom line for business is out-of-control health insurance costs. To stem the awesome tide, companies are trying various tactics, all of which involve limiting benefits or choice for workers unaccustomed to paying their own health bills. J.C. Penney Co.

no longer will insure workers whose spouses have their own health insurance at other companies. In January, Levi Strauss Co. will begin "If choice is important to you, you're going to have to pay a lot for it. The overall trend is limiting choice." Neil Austin plans, figuring the hassle of waiting for appointments was worth it because they rarely needed doctors. The more frequently ill employees chose the traditional plans, especially those that offered mental health benefits, the fastest rising health-care cost in the country.

And many workers switched health plans annually to suit their needs. "Employees in good health would choose an HMO. The next year, if they found their teen-ager needed counseling or they wanted an optional operation, they switched to the (traditional) plan. The following year, they'd switch back to the HMO," says Chevron's Ross. "You get this maneuvering and it drives the indemnity plans into bankruptcy," he says.

Indeed, Blue Cross canceled its traditional plan offered'to employees of the Mount Diablo (Calif.) Unified School District two years ago when it figured it was spending $2 in medical bills for every $1 it got in premiums, said Bill Callahan of the American Federation of Teachers. That district still cannot find another traditional insurer to pick up the policy. Single policies that offer multiple options use select doctors and pay little; use other physicians and pay 30 percent might solve that problem by spreading the risk of insurance among a larger group of workers. Just like businesses, unions such as the Newspaper Guild and the American Federation of Teachers are considering such a move. But as the trend escalates, it will cause a dramatic shakeout among both insurers and the public.

The move away from many small health maintenance organizations to large insurance companies offering managed care plans threatens the future of HMOs that already are struggling financially. And for employees who already belong to HMOs, the switch often means they must find new physicians on the new policy's list, even if they don't have to pay more. Especially discouraging to executives and consumers is that this latest scramble to save costs comes after a decade of failed attempts to do just that. BiMyla. tMt readln BrernPr rnerk BurlNlh rlPJee CBB 4.40 CtONA 1.11 CMB Eng.lOe CPC 1.10 CRM (.11 CBX 1.40 CaaMr 1171 10 Ik 11 701 171k I 101 1144 14 1024 171k 11 1111 1101 17 11 1ltt- 10 117 114 14 II 14tk 1k 17 1410 114 4fc 11 lilt 10 1k 1114 1114 4.

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That effort to control costs backfired. The healthiest workers chose the cheapest Carnln CravRs 14 1110 11 111 10211 131 13 452 II 2111 I 1001 14 1111 2061 13 3124 12 3147 1022 17 11111 II 1111 11 2711 14 1141 10 1742 I 1216 11 1172 10 217 21 4060 II 1411 10 110 15 2167 I 110 2.10 CarnCrk CumEn CurtW ft 31 ft 13ft 41V ft 14M 10ft ft 43ft ft lift 11ft ft 334 ft 60V ft 63ft ft 34ft ft 36ft ft 26V 42ft ft 314 ft 76ft ft 244 21ft 71ft ft 21ft ft 1ft ft 11014 4114 ft 414k 4 17 1V4 0 2000 12 11 1 2350 20 2451 4 521 11 1711 5 5257 12 414 14 1452 6995 I 76 14 2232 10 2161 21 1040 1 2503 10 3612 11 267 .00 1.42a 1.11 1 .21 1.15 .52 1.42 1 a.3i 1.12 2a 1.44 6 1.40 1.30 .02 1.60 1 1.10 1.10 1.70 2.00 1.40 1.14 1.12 .71 1.20 1.12 .14 SO 1.12 1.14 1S7ft ft 37ft ft 5ft ft 21V ft 4ft ft 35ft ft 22ft ft 21 ft 71ft 14 14ft 11ft ft 7ft' ft 2 ft 72ft 1ft lift 14 21ft ft 3ft ft 4314 ft lift 2ft 24ft uni fined $10 million in silver case 2.00 2.32 1 .20 3.71 1.10 2 wl 70 1 1.40 1.10 1.00 1.14 1.11 1.00 1.11 1 1.10a 1.00 .41 1.11 .71 1.10 .71 1 4.00 1.11 10 422 104 12 140 23V' tk 0 III 334 4k SI 111k tk 14 2721 10 1ft 12 1174 IIV4 7 2575 17V 11 1141 2Stk tk 11 1210 0314 22 12242 114 2 12 712 47Vb ft 15 1100 134 7 1021 lift 14 10 201 1214 4 11 1454 444 Ik 11 1070 114 ft 11 2411 1544 MCA MDU MlrHan Manilla Mapea Maiclat MaitM Maaca Maiua SayDS aylag McDarl McDnl McDnD McOrH McKaa Maid Mallan Malvlll MatcSt Marck MarLyn MWE MlnnPL Makll Monean MonPa Morgan Malaria NCNB NCR NIPSCO NL Ind Nalca NalFOa Nil NlSantl Navlatr NevPw NEngEI Noting NtaMP Nllkla Narlak Naoetut NaStPv Nortrp Nortan Nrwal Nynai 14 4110 11 1310 11 411 556 15 1112 .26 14 445 I 4101 UAL OOI UNCIna U1FQ U80 USX UCarb UnElec UnPac Unlaya UBrand USWaat UnTech Unltal Until Unocal Uplohn USLIFE Varlan Verity Waekhl WalMrt WarnC WarnrL Wahwt WellaF WUnlaa WatgE Weyerk Whrlpl Whltmn Whltk William WlnOla Wlnnbg Wolwlh Wynne Xarei ZenlthE 00 17 2 DPL DOE DanaOp DataQn DaytHd Oaara DaltaAt OatEd Digital Dlny DeatRa Devar OowCh Dowjns Draar duPaat DukaP ERC EaalEa (Kodak Eatan Cchlln EKCO ErnnEI Enroa Enarck Entargy Etkyl Enon .22 26 4495 4 2171 42ft ft 1ft 4 11114 ft 10ft II 1631 11 171 1114 14 421 ul5Vt 1tk 15 7111 1.40 2 2 .70 1.20 2.40 401 14 SSVk 16V IV 2V4 ft 111 ft .00 3.04 2.40 3.00 2.40 1.20 1.10 1.02 1.40 1.11 .20 l.M I 555 11 1456 21 1340 11 3107 IS 2354 11 2142 43ft ft 11 3214 58 ft 11 1171 II I 500 14ft ft 10 llll 1141ft ft 14 12 u27Vk 1 00 144t tt '1710 (ft ft 14 7107 lft 14 121 25V ft 14 211 21ft ft 14 1242 47ft ft 21 S277 14ft ft 11 1100 31ft tt 411 Sft ft II 4407 lift 11 341 31ft ft 2431 17ft ft 11 1111 SSft ft 3935 2014 It 15 5646 lift ft 11 135 7 2570 12203 11 2745 0 4004 17 371 11 4260 2 470 1601 17 171 171 11 1011 11 17 57 ft u27tk ft 40 2304 72 1ft 15-11 70ft ft 24V ft lift II ft 74 114 ft Oft ft lft ft 1 ft 1314 tk 66ft ft 12V 7042 13 1000 17 7151 224 ft 2Stk 501 tk 1.40 1.51 1.04 .0 00 1.44 .10 1.70b 2.22 1.20 2 a.02 4.30 .10 i 15 2534 1124 FMC FPL dp 2.11 Falild Fadara .40 0 411 IS 4 11 2052 ulltt 1 31 3(2 4 tk It 141 114 Foreign money futures By ROBERT A. ROSENBLATT The Los Angeles Times WASHINGTON Nelson Bunker Hunt will pay a record $10 million penalty and be barred from all commodity trading under a settlement of civil charges that he tried to rig the silver market in 1979 and 1980, the Commodity Futures Trading Commission said Wednesday. The penalty, the largest fine ever levied by the CFTC, will be collected only after Hunt pays his "multimillion-dollar debts to the Internal Revenue Service," the CFTC said. TheCFTC settlement is tied to agreements between Hunt and the IRS, giving the Treasury the rights to the bulk of Hunt's bankruptcy estate in return for disposing of tax claims.

Hunt agreed to the settlement without admitting or denying the charges against him. Most of Hunt's financial holdings, now under control of a bankruptcy court, will be consumed by federal income tax payments and by legal judgments to private companies and individuals who sued in connection with the silver market surge. Hunt and his brother, William Herbert, and six other defendants allegedly acquired more than 100 million ounces of silver bullion in an attempt to comer the supply of the metal and manipulate the market. Silver prices soared from less than $11 an ounce in September 1979 to a record $50 an ounce in mid-January 1980, and then collapsed below $11 by the end of March. The price of silver was $5.64 an ounce on Wednesday.

The Hunts' massive silver purchases a combination of the actual metal and futures contracts calling for delivery of more silver at a later date violated CFTC rules against market manipulation, the regulatory agency said. By concentrating the buying surge in such a short time, the Hunts drove the price of silver to artificially high levels, according to the CFTC. As prices climbed, the Hunts used their silver holdings as collateral to borrow large sums of money to buy even more silver. The purchases were so great the market was "unable to meet their demand at non-artificial prices," the CFTC said in its original 1985 complaint. When the commodities exchanges applied limits on trading activity to cool the speculative surge, the Hunts tried to open new accounts in the names of other people and corporations to keep driving up the price, according to the CFTC.

Silver prices ultimately collapsed as new supplies poured into the market, and after the Federal Reserve Board issued a stern warning against providing loans to finance speculation in silver. Under the settlement agreement, Nelson Bunker Hunt is barred from trading in silver or any other commodities in the United States, a sweeping and irrevocable exile from the markets where the erstwhile billionaire once played such a big role. The CFTC expects to collect the $10 million in stages. The agency will be a creditor in the bankruptcy proceeding for $1.5 million. The IRS gets the lion's share, expecting to receive 80 percent of the money disbursed in the bankruptcy proceeding.

After Hunt emerges from bankruptcy, the CFTC would obtain the remaining $8.5 million from any inheritances receiyed by Hunt. Once again, the. IRS has first call on inheritances and future earnings. CFTC officials agreed that the agency would come behind the IRS in its claims, because all of the money collected in penalties goes to the same destination, the U.S. Treasury.

Authorities are now negotiating a similar settlement with William Herbert Hunt. CHICAGO Ferakjit money futuree EK- Bap A07O27 Laat epot .005944, up 15. Wada aalee 10,044. open kit 44,129, off 21,104. SWIBB FRANC Ovan Hum Low Batata Cha.

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off 177. per dkn 1 point eauale 00.0001 Mar .4544 J14t .4537 .1543 7 Jim .1471 .1474 .1470 .6475 Bap J410 .1417 .1410 4411 1 Dec .1147 4 Mar 1300 9300 J200 .4290 10 Leet epot .9420. up 04. Mae 1493. 4 FROM PAGE 1 Gifts for Pets Toys Treats 'Leashes Meat Bowls Meat Mstc Need a Classified Ad? IFM Income Sweaters-Jackets et Beds Hand Houses OPEN CHRISTMAS EVE 'til 9:00 o.m.

CHRISTMAS DAY 5:00 a.m. to 3:00 p.m. Stocking Stuffers START AT 98 Rawhide Bones'" Beef Bones Rawhide $298 i i i Merry Christmas II DOG PORTRAIT NOTE from all your friends WILD BIRDS 20 OFF WILD BIRO FEEDERS BIRD FEEDERS (AQO STARTING AT 9 Personal incomes in November totaled $4.54 trillion at a seasonally adjusted annual rate, following a similar 0.8 percent gain to $4.50 trillion in October. It was the largest increase since a 1 percent gain last March. But Lawrence Chimerine, senior economic adviser for the WEFA Group, a Bala Cynwyd, forecasting group, said there were a number of factors that could lead to decreased spending.

"The negatives are the high debt loads," he said. "People now are getting more concerned about the future. You're seeing more layoffs and, particularly for durables, the pent-up demand we had in the earlier '80s has just been used up. People just don't have the same needs." The $26.2 billion increase in personal consumption, which includes everything except interest payments on debt, contrasted to a $6.3 billion decrease in October. Purchases of durable goods big-ticket items expected to last more than three years rose $1.9 billion, while purchases of non-durable goods jumped $12.4 billion.

Spending on services increased $11.9 billion. The November report showed that Americans' incomes after taxes rose 0.9 percent, up from. October's 0.8 percent gain. BIRD HOUSES 515 STARTING at DUNDEE MANOR RESTAURANT Rtes. 68 72 East Dundee 708-426-7580 CM II 7m Phone tied up? Use your FAX machine to send us your Classified ad.

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