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

Autolnsure Agency Inc
(315) 487-7873
1301 Burnet Ave
Syracuse, NY
Hayward Robert J Ins
(315) 463-9225
3700 James St
Syracuse, NY
Fairclough & Co Llc
(315) 473-9220
103 E Water St
Syracuse, NY
General Casualty Insurance
(315) 476-7298
308 Maltbie St Ste 104
Syracuse, NY
Group Health Incorporated
(315) 432-0198
5015 Campuswood Dr E
Syracuse, NY
Allstate Insurance Companies
(315) 488-5433
2105 W Genesee St
Syracuse, NY
Ticor Title Insurance
(315) 477-9871
201 E Jefferson St Ste 400
Syracuse, NY
Davis Paul H Inc
(315) 437-0075
1801 Burnet Ave
Syracuse, NY
Employee Benefits Plus Inc
(315) 474-1400
528 Plum St Ste 250
Syracuse, NY
Allstate Insurance
(315) 433-1522
128 Manlius 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.

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