Health Insurance Survey Endicott 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

Steven P Harter Insurance
(607) 785-0633
3550 George F Hwy
Endicott, NY
Sedor Robert M Jr Consltnt
(607) 754-7222
1405 Davis Ave
Endicott, NY
Prudential Financial
(607) 429-0001
3218 Watson Blvd
Endicott, NY
Gance Vince Agency
(607) 757-0264
9 Washington Ave
Endicott, NY
State Farm Insurance
(607) 484-8400
3102 E Main St
Endicott, NY
State Farm Ins Co
(607) 484-8400
3102 E Main St
Endicott, NY
Allstate
(607) 748-1100
2010 E Main St
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Nationwide Mutual Ins Cos
(607) 754-9008
115 E Main St
Endicott, NY
MacUch James R
(607) 754-7027
2507 E Main St
Endicott, NY
Prl Associates
(607) 785-8381
110 Grant Ave
Endicott, 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.

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