Administaff Extends Relationship with UnitedHealthcare for Medical and Dental Coverage
05 Octobre 2010 - 1:00PM
Business Wire
Administaff, Inc. (NYSE:ASF), a leading provider of human
resources services for small and medium-sized businesses, today
announced that it has extended its arrangement for medical and
dental coverage with UnitedHealthcare, a UnitedHealth Group company
(NYSE:UNH). This new, three-year arrangement reflects the company’s
success in moderating the rate of health care cost increases on
behalf of its covered worksite employees, as well as a further
strengthening of its business relationship with
UnitedHealthcare.
Under the terms of the new agreement, effective Jan. 1, 2011,
there is a projected three-year savings of approximately $7.7
million to Administaff. Projected savings are based on increasing
participation in UnitedHealthcare’s coverage options under the
Administaff Group Health Plan. The dental plan will see a modest
premium increase for 2011, and a cap will apply to any potential
increases for 2012 and 2013.
“We are very pleased with the terms of our new agreement with
UnitedHealthcare,” said Richard G. Rawson, Administaff’s president.
“We believe this new arrangement demonstrates the long-term success
of our relationship, and we appreciate UnitedHealthcare’s ongoing
commitment to helping us provide premium health care benefits for
worksite employees at America’s best small and medium-sized
businesses. The structure of the new agreement aligns both
organizations’ incentive to increase participation.”
Administaff selected UnitedHealthcare as its leading health
insurance carrier in Jan. 2002. The majority of Administaff’s
corporate and worksite employees have health coverage with
UnitedHealthcare.
Administaff is the nation’s leading professional employer
organization (PEO), serving as a full-service human resources
department that provides small and medium-sized businesses with
administrative relief, big-company benefits, reduced liabilities
and a systematic way to improve productivity. The company operates
51 sales offices in 24 major markets. For additional information,
visit Administaff’s website at http://www.administaff.com.
The statements contained herein that are not historical facts
are forward-looking statements within the meaning of the federal
securities laws (Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934). You can
identify such forward-looking statements by the words “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates,” “likely,”
“possibly,” “probably,” “goal,” “objective,” “target,” “assume,”
“outlook,” “guidance,” “predicts,” “appears,” “indicator” and
similar expressions. Forward-looking statements involve a number of
risks and uncertainties. In the normal course of business,
Administaff, Inc., in an effort to help keep our stockholders and
the public informed about our operations, may from time to time
issue such forward-looking statements, either orally or in writing.
Generally, these statements relate to business plans or strategies,
projected or anticipated benefits or other consequences of such
plans or strategies, or projections involving anticipated revenues,
earnings, unit growth, profit per worksite employee, pricing,
operating expenses or other aspects of operating results. We base
the forward-looking statements on our expectations, estimates and
projections at the time such statements are made. These statements
are not guarantees of future performance and involve risks and
uncertainties that we cannot predict. In addition, we have based
many of these forward-looking statements on assumptions about
future events that may prove to be inaccurate. Therefore, the
actual results of the future events described in such
forward-looking statements could differ materially from those
stated in such forward-looking statements. Among the factors that
could cause actual results to differ materially are: (i) changes in
general economic conditions; (ii) regulatory and tax developments
and possible adverse application of various federal, state and
local regulations; (iii) the ability to secure competitive
replacement contracts for health insurance and workers’
compensation contracts at expiration of current contracts; (iv)
increases in health insurance costs and workers’ compensation rates
and underlying claims trends, health care reform, financial
solvency of workers’ compensation carriers and other insurers,
state unemployment tax rates, liabilities for employee and client
actions or payroll-related claims; (v) failure to manage growth of
our operations and the effectiveness of our sales and marketing
efforts; (vi) changes in the competitive environment in the PEO
industry, including the entrance of new competitors and our ability
to renew or replace client companies; (vii) our liability for
worksite employee payroll and benefits costs; (viii) our liability
for disclosure of sensitive or private information; (ix) our
ability to integrate future acquisitions; and (x) an adverse final
judgment or settlement of claims against Administaff. These factors
are discussed in further detail in Administaff’s filings with the
U.S. Securities and Exchange Commission. Any of these factors, or a
combination of such factors, could materially affect the results of
our operations and whether forward-looking statements we make
ultimately prove to be accurate.
Except to the extent otherwise required by
federal securities law, we do not undertake any obligation to
update our forward-looking statements to reflect events or
circumstances after the date they are made or to reflect the
occurrence of unanticipated events.
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