Health Insurance Survey Oswego 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

Blum Jack
(315) 342-2443
142 W 2nd St
Oswego, NY
Bartlett Insurance
(315) 342-6767
131 W 2nd St
Oswego, NY
Dowd & Harrington Agency
(315) 343-6310
166 W 1st St
Oswego, NY
Bruce H Whitney Financial Services
(315) 343-6310
166 W 1st St
Oswego, NY
Bartlett Insurance
(315) 343-5670
131 W 2nd St
Oswego, NY
Landmark Group
(315) 342-6186
97 W Utica St
Oswego, NY
Daley Brian P Ins
(315) 343-6000
29 W Seneca St
Oswego, NY
Gilman P Kevin
(315) 343-2380
150 E 4th St
Oswego, NY
Molinari Agency Inc
(315) 343-2360
34 E Bridge St
Oswego, NY
Fitzgibbons Agency
(315) 342-5000
35 E 1st St
Oswego, 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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