Health Insurance Survey Glens Falls 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

Metlife Financial Services
(518) 792-6566
333 Glen St Ste 302
Glens Falls, NY
Adirondack Excess Inc
(518) 761-1211
94 Bay St
Glens Falls, NY
Allstate Insurance
(518) 761-4680
206 Glen St
Glens Falls, NY
O'brien R J Insurance Agency Inc
(518) 793-5173
83 Bay St
Glens Falls, NY
Whitestone Corp
(518) 798-8184
17 Aviation Rd
Glens Falls, NY
Stephen Jenkins
18 Division Street
Saratoga Springs, NY
Employee Services Corp of Neny
(518) 792-0042
42 South St
Glens Falls, NY
Loyalty Life Insurance Co
(518) 761-4400
333 Glen St
Glens Falls, NY
Loomis & Lapann
(518) 792-6561
18 Exchange St
Glens Falls, NY
Smith Associates
(518) 761-6806
16 Clark St
Glens Falls, NY
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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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