Health Insurance Survey Olean 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

Dennis Faucher, DDS
(814) 362-1575
12 Pine Street
Bradford,, PA
Adagio Health
(814) 368-6129
70 1/2 Mechanic Street
Bradford,, PA
Barua Subir K Clu Ms Mba
(716) 372-0822
2646 W State St
Olean, NY
All American Financial Service & Insurance
(716) 373-5500
500 Wayne St
Olean, NY
Conroy Michael R Ins
(716) 372-0314
414 W State St
Olean, NY
Great Lakes Home Healthcare Services
(814) 362-8141
600 Chestnut St., Suite 3
Bradford,, PA
Kurt J. Laemmer, DMD
(814) 368-4492
Signature Smile Designs
Bradford,, PA
Bantelman Bantelman & Assoc Inc
(716) 372-3900
1002 W State St
Olean, NY
Allstate Insurance Co
(716) 372-7209
1224 E State St
Olean, NY
Prudential Financial
(716) 372-1500
2646 W State St
Olean, 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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