Health Insurance Survey Latham 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

Innovine Fedro
(943) 835-8383
CANADA
BC, VI
Bruce Gaynor
6 Tower Place
Albany, NY
State Farm Mutual Auto Ins Co Inc
(518) 783-7897
623 New Loudon Rd
Latham, NY
New York Life Insurance Company
(518) 220-4231
26 Century Hill Dr Ste 301
Latham, NY
AA Insurance
(518) 783-5591
297 Troy Schenectady Rd
Latham, NY
Maloney & Assc.
518-590-4845
20 church street
cohoes, NY
CDPHP - Capital District Physicians' Health Plan
(518) 641-5145
500 Patroon Creek Blvd
Albany, NY
Cool Insuring Agency Inc
(518) 783-5567
784 Troy Schenectady Rd
Latham, NY
New York Life Insurance Company
(518) 220-4200
26 Century Hill Dr Ste 301
Latham, NY
Vanderzee David Paul
(518) 785-4141
1201 Troy Schenectady Rd
Latham, 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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