Health Insurance Survey Vestal 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

Liberty Mutual Group
(607) 797-7587
4104 Vestal Rd Ste 200
Vestal, NY
Wiles Philip F
(607) 754-1411
825 Vestal Pkwy W
Vestal, NY
All State Insurance-Susan Correll
(607) 748-2582
3209 Vestal Pkwy E
Vestal, NY
A I P Associate In Protection
(607) 754-4883
408 Brook Hill Ave
Vestal, NY
Oliver William J Genl Ins
(607) 754-1411
825 Vestal Pkwy W
Vestal, NY
Elkins Grabow Inc
(607) 748-7411
112 Clayton Ave
Vestal, NY
State Farm Insurance
(607) 231-3131
4501 Vestal Pkwy E
Vestal, NY
Allstate Insurance Companies
(607) 729-0812
4100 Vestal Rd
Vestal, NY
Nationwide Mutual Ins Cos
(607) 748-6328
156 Vestal Pkwy E
Vestal, NY
Mather Brian K Agency Inc
(607) 748-1557
134 Front St
Vestal, 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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