Health Insurance Survey Syracuse 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

Graham Newton & McMahon
(315) 474-4239
580 S Salina St Ste 1
Syracuse, NY
Shaughnessy Agency Inc
(315) 475-6116
847 N Salina St
Syracuse, NY
Mallard Group Inc
(315) 701-0965
3013 James St
Syracuse, NY
Nationwide Insurance
(315) 451-4660
110 Elwood Davis Rd Ste 1
Syracuse, NY
Nationwide Insurance
(315) 451-4661
110 Elwood Davis Rd Ste 1
Syracuse, NY
Affordable Auto Insurance Agency Inc
(315) 474-5687
524 Hawley Ave
Syracuse, NY
Excellus Blue Cross Blue Shield
(315) 448-6764

Syracuse, NY
Health Services Medical Group East
(315) 446-6102
2803 Erie Blvd E
Syracuse, NY
Gillen & Stickle Assoc
(315) 477-0129
247 W Fayette St
Syracuse, NY
Capone T Mark Ins
(315) 422-6128
901 Lodi St
Syracuse, 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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