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

State Farm Insurance
(607) 217-1111
4501 Vestal Pkwy
Binghamton, NY
Heiss Henry M
(607) 772-0627
15 Hawley St
Binghamton, NY
Blair Agency
(607) 723-5413
2 W State St
Binghamton, NY
Northwestern Mutual Financial Network
(607) 231-7333
400 Prospect St
Binghamton, NY
Sherry Barton Nationwide Agent
(607) 722-6479
286 Conklin Ave
Binghamton, NY
E Z Budget Llc
(607) 729-0808
219 Main St
Binghamton, NY
Medicare-Part B Information-Blue Cross and Blue Shield of Wester
(607) 766-6000
33 Lewis Rd
Binghamton, NY
Blue Cross and Blue Shield of Western New York Medicare-Part B I
(607) 766-6000
33 Lewis Rd
Binghamton, NY
Wyak Insurance Agency Inc
(607) 723-2332
7 Jarvis St
Binghamton, NY
Liberty Mutual Group
(607) 724-7252
1139 Upper Front St Ste 5
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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