Health Insurance Survey Saratoga Springs 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

State Farm Murphy Michael
(518) 581-8240
58 Washington St Ste 3
Saratoga Springs, NY
State Farm Insurance
(518) 587-6483
440 Maple Ave
Saratoga Springs, NY
State Farm Insurance
(518) 587-0136
3303 Route 9
Saratoga Springs, NY
Charles Hicks & Company Inc
(518) 587-5657
524 Maple Ave
Saratoga Springs, NY
Pietrosanto Insurance Agency
(518) 581-3282
368 Broadway Ste 14
Saratoga Springs, NY
Stephen Jenkins
18 Division Street
Saratoga Springs, NY
State Farm Insurance Companies
(518) 587-6483
440 Maple Ave
Saratoga Springs, NY
Bruno Barry J
(518) 587-9295
7 Court St
Saratoga Springs, NY
Upstate New York Here Insurance & Pension Fund
(518) 691-0078
376 Broadway
Saratoga Springs, NY
Northwestern Mutual Financial Network
(518) 583-0041
58 Washington St
Saratoga Springs, 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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