Health Insurance Survey Binghamton NY

A new report from America's Health Insurance Plans (AHIP) says that health insurance premiums are growing at a reduced rate, despite increased use and higher costs, while health insurance plans' efforts are easing drug cost increases. The study found that premiums rose 8.8% between 2004 and 2005, which is 36% lower than the 13.7% increase in a similar report from 2002.

Local Companies

Northwestern Mutual Financial Network
(607) 231-7324
400 Prospect St
Binghamton, NY
National Life Insurance Co
(607) 722-4293
107 Oak St
Binghamton, NY
Allstate Insurance Companies
(607) 772-9122
30 W State St
Binghamton, NY
Quality Insurance Agency
(607) 348-0084
59 Front St
Binghamton, NY
William Orband Inc
(607) 723-6301
84 Court St Ste 400
Binghamton, NY
Benedict William M
(607) 723-7363
1107 Press
Binghamton, NY
Auto Insure Agency Inc
(607) 766-2886
263 Main St
Binghamton, NY
Aflac Ny
(607) 723-5918
1 Marine Midland Plz
Binghamton, NY
Ez Budget Insurance
(607) 766-2886
263 Main St
Binghamton, NY
Butler Michael
(607) 722-2305
117 Hawley St
Binghamton, NY

Provided By:

Source: REMODELING Magazine
Publication date: April 1, 2006

By Nina Patel

A new report from America's Health Insurance Plans (AHIP) says that health insurance premiums are growing at a reduced rate, despite increased use and higher costs, while health insurance plans' efforts are easing drug cost increases. The study found that premiums rose 8.8% between 2004 and 2005, which is 36% lower than the 13.7% increase in a similar report from 2002. Higher use accounted for 43% of the rise, fueled by factors such as increased consumer demand, new and more intensive medical treatments and defensive medicine, as well as by aging and unhealthy lifestyles. Price increases in excess of inflation accounted for 30% of the rise and were impacted by movement among purchasers to broader-access health plans, provider consolidation, increased labor costs, and higher priced technologies.

Prescription drugs accounted for 16 cents of the premium dollar, and drug spending increased by 8.6%, which is lower than the double-digit jump of recent years. The report credited health insurance plans' prescription benefit tools and techniques with helping to slow drug spending.

The study, titled “The Factors Fueling Rising Healthcare Costs 2006,” was prepared for AHIP by Pricewaterhouse-Coopers.

Click here to read full article from Replacement Contractor

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