Health Insurance Survey Riverhead 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

Swahn Insurance Agency Inc
(631) 727-2021
310 E Main St
Riverhead, NY
David Geiger & Assoc
(631) 208-9131
699 Manatee Bay Dr
Riverhead, NY
Centurion Asset Corp
(631) 369-1000
1186 E Main St
Riverhead, NY
State Farm Ins Cos
(631) 727-1122
1149 Old Country Rd Ste B5
Riverhead, NY
Allstate Insurance Companies
(631) 208-1200
725 E Main St
Riverhead, NY
Power Insurance Co
(631) 369-3444
RR 58
Riverhead, NY
R I S C Inc
(631) 369-3800
400 W Main St
Riverhead, NY
Principal Financial Group
(631) 506-0444
400 W Main St
Riverhead, NY
Lupton & Luce Inc
(631) 727-4114
225 Howell Ave
Riverhead, NY
Giacalone Insurance Agency
(631) 208-9090
59 E Main St
Riverhead, 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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