Published on September 11, 2007 at 7:56 PM
Health insurance premiums increased at the slowest pace in eight years, marking the fourth consecutive year premium increases have declined, according to a new report released today.
Published by the Kaiser Family Foundation and Health Research and Educational Trust, the Employer Health Benefits 2007 Annual Survey found that health insurance premiums increased by 6.1 percent in 2007.
"Health insurance plans' focus on prevention and wellness, disease management, tiered prescription drug plans and other innovative tools continue to mitigate the rising cost of medical care," said Karen Ignagni, President and CEO of America's Health Insurance Plans.
A PricewaterhouseCoopers' report, The Factors Fueling Rising Health Care Costs 2006, credited tiered prescription drug formularies as "one of the most striking reasons" prescription drug cost growth has declined in recent years.
"Today's report shows that the country is taking steps in the right direction on health care costs," Ignagni said. "Further progress is within reach if policymakers allow more flexible benefit designs; give patients and doctors information on the safety, efficacy and cost-effectiveness of prescription drugs, medical devices and procedures; and reform the broken medical liability system."
The full survey can be found on the Kaiser Family Foundation Website at: http://www.kff.org/insurance/7672/upload/EHBS-2007-Full-Report-PDF.pdf