Money Minute: Google Shares Search for Record High; Health Care Premiums Seesaw

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Good news, bad news on health care premiums. That's one of the six money stories you need to know this Friday.

Health care insurance premiums for large employers rose this year at their slowest pace in a decade. According to an Aon Hewitt (AON) survey, rates increased by just 3.3 percent, a significant improvement from recent years. The average worker contributed just over $2,300. However, the average premium hike for next year is expected to jump back into the 6-to-7 percent range, and a good part of that added cost will be passed along to employees.
Hispanic female doctor examining patient
Alamy
The Standard & Poor's 500 index (^GPSC) gained 11 points yesterday, rising to an all-time high. So far this year, the S&P is up more than 21 percent -- great news for people with retirement accounts. Many mutual funds are linked to this index. But the Dow Jones industrial average (^DJI) slipped 2 points, hurt by big losses from IBM (IBM), Goldman Sachs (GS) and UnitedHealth Group (UNH) -- all of which reported earnings. IBM's stock price fell to its lowest level in two years.

Google Celebrates 15th Anniversary As Company Reaches $290 Billion Market Value
David Paul Morris/Bloomberg via Getty Images
Shares of Google (GOOG) are moving to record highs following strong earnings. Net rose a better-than-expected 36 percent and one market research firm estimates that Google controls one-third of the worldwide market for online advertising. Still, going forward analyst say the company needs to show more revenue from mobile ads.

With government workers back on the job, we'll start to see a string of economic data coming out. Most importantly, the monthly jobs report -- which was due out two weeks ago today -- will now be released next Tuesday.

Former vice-president Al Gore reveals in a new book that he and a partner tried to buy Twitter back in 2009. The book, by a New York Times reporter, also says Facebook (FB) founder Mark Zuckerberg met with Twitter's founders in an unsuccessful effort to buy the company. Twitter said no to both, and it's now planning an initial public offering that values the company at more than $10 billion.

Finally, a new way to combine gambling, investing and football. The New York Times reports a new company will offer shares in Arian Foster, a star running back with the Houston Texans, betting on his future earnings from football and endorsements. Of course, it's a very risky proposition.

-Produced by Drew Trachtenberg.


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31 Comments

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Keith

WHAT HEALTH INSURANCE? You go into a hospital under a fake name and then when checking out, ask to use the restroom, and just keep walking through the front doors. Don't want to make health CARE AFFORDABLE? All you have to do is walk out.

October 18 2013 at 4:06 PM Report abuse rate up rate down Reply
1 reply to Keith's comment
jiminey99

Why not, your "entitled" to have others pay your way.

October 18 2013 at 10:50 PM Report abuse rate up rate down Reply
patrick_821

"How Will You Fare in the Obamacare Exchanges? Click on link and you will get to see Comparing the Cost of Buying Health Care Insurance in the non-group market versus the Obamacare exchanges.

October 18 2013 at 4:04 PM Report abuse -1 rate up rate down Reply
nnanciejean

My premiums stayed the same but my deductibles went up by $6000. That translates into our family not being able to go to the doctor now. Not only can\'t I afford care now thanks to the dems, but I get hit with having to pay for all those who don\'t have to pay now. And let\'s be honest, those that take ocare are not going to pay their deductibles. What a mess the dems have handed to the hardworking middle class.

October 18 2013 at 3:54 PM Report abuse +1 rate up rate down Reply
de6116

That is why you say no no no when people ask for money so you can afford things that you cant control. For example, a new millage for a high school... no no no because I have to pay for heathcare. My question is why do they get a raise when everyone else get a decrease or accepts status quo?

October 18 2013 at 3:46 PM Report abuse rate up rate down Reply
eyedoc57

Nice try, utilzation is always higher which leaves doctors and hospitals with less. It was government calculations were way off . This trainwreck is going to cost 2.5 trillion with a T not 800 billion. Cool-aid calculations. Thats why premiums are will go up. What idiot came up with that number. Healthcare represents 1/6 of a 15 trillion dollar ecomony. DO THE MATH Mr. cllinton and MAC2JR

October 18 2013 at 3:43 PM Report abuse rate up rate down Reply
eyedoc57

Really,

My premiums went up 12%. And my benefits were reduced. Did the report factor this in? No of course not.

October 18 2013 at 3:30 PM Report abuse +1 rate up rate down Reply
anthdif

thanks for the information. I have already been smacked between the eyes with a significant health care premium increase. I am told largely due to the \'un\' affordable health care act.

October 18 2013 at 2:27 PM Report abuse rate up rate down Reply
fhuf1988

IMPORTANT NEWS RE: BUDGET COMMITTEE
Paul Ryan is on the new Budget Committee to make recommendations on ways to Balance the Budget. The committee\'s report must be completed by December 13, 2013. Paul Ryan stated that he will recommend cutting Social Security and reforming Medicare. He wants to give Senior Citizens medical vouchers, and they will have to pay the balance of their medical bills. Paul Ryan does not want to raise taxes on the rich or very wealthy, and he did not say anything about eliminating or reducing the Billions that we give to dictators around the world. This means that Senior Citizens will be forced out of hospitals and nursing homes. Write to President Obama and members of Congress. If the Tea Party can threaten Congressmen who are seeking re-election, we better make our voices heard. Your parents, grandparents, uncles, aunts and other relatives will live in poverty or be out on the streets.

October 18 2013 at 2:04 PM Report abuse -2 rate up rate down Reply
2 replies to fhuf1988's comment
willypfistergash

The vouchers are to purchase health insurance, not health care. Now when you say cutting SS, don't you mean making cuts to SS? Yes, there is a difference.

October 18 2013 at 2:19 PM Report abuse rate up rate down Reply
stock market

Your statement is not true. My parents will not be affected by reforming SS or Medicare. People will probably not be eligible for SS or Medicare until age 70 and wealthier members will have to pay more into the system. You must remember, when the wealthy people first signed up for SS and Medicare they started when they were 16 yrs. old paying into the system. You don't think they deserve to get anything in return? They kept the system alive, but it is the freeloaders now that don't do anything to keep it going, plus our government took the money out of that savings and gave them an IOU.

October 18 2013 at 2:48 PM Report abuse +2 rate up rate down Reply
stock market

Kaiser Health Care went up 114% in some cases. You can google that and read what one employee wrote. I still think everyone should be put on the same plan....and that includes Congress, the President and staff along with the Supreme Court. Everyone the same. You must know if it is a good plan, the President would want it, too? We are heading for Socialism in this once great country.

October 18 2013 at 1:46 PM Report abuse +3 rate up rate down Reply
1 reply to stock market's comment
dkelmstra

The HOUSE tried to do that but democrats say NO!! Delaying the individual mandate 1 year was a great idea especially in view of the many problems people are having.
I am not sure why democrats insist on fining and penalizing people other than the fact they stand to reap $10 BILLION in new revenues to waste.

October 18 2013 at 1:58 PM Report abuse +2 rate up rate down Reply
zzyxx

our fearless leader stated we would all save at least 2500 dollars on our premiums........bueller? bueller?

October 18 2013 at 1:42 PM Report abuse +5 rate up rate down Reply