Health Insurance Survey Potsdam 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

Northwestern Mutual Financial Network Co
(315) 265-8334
71 Market St
Potsdam, NY
Northwestern Mutual Financial Network
(315) 268-0323
17 Maple St
Potsdam, NY
State Farm
(315) 268-9000
70 Market St Ste 3
Potsdam, NY
Allstate Insurance Companies
(315) 265-2600
6604 State Highway 56
Potsdam, NY
Kot John
(315) 265-2600
6604 State Highway 56
Potsdam, NY
United Healthcare Medicare & Retirement
315-600-7861
42 Belmont Street
Massena, NY
Rose & Kiernan Inc
(315) 265-2341
2 Main St
Potsdam, NY
MacFadden-Dier-Leonard Insurance
(315) 265-4230
22 Depot St Ste 20
Potsdam, NY
Nationwide Insurance
(315) 265-2140
20 Elm St Ste 102
Potsdam, NY
St Lawrence Business Svcs
(315) 265-7488
65 Main St Ste 301
Potsdam, 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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