A decline in the increase rate in premiums for health insurance has been noticed in a nationwide survey done by Kaiser Family foundations.
As per Kaiser Family foundation's nationwide survey in US, an organization tracking health insurance costs every year, there has been a decline in the increase rate in premiums for health insurance. Following the same trend as in the past 3 years, however the rate is over double compared to rate of increase in inflation and workers' wages.
Premium increased at 7.7% in 2006, a decline from 9.2% in the year 2005 and just more than half of the recent maximum of 13.9% in 2003. The survey included over 3,000 firms with 3 or more employees. Survey, released on September 26 2006, was completed in April this year when the inflation rates increased by 3.5% and employee wages saw a 3.8% increase.
Drew Altman who heads the foundation said that an increase is an increase in any case. A little reduction won't please the people and businesses that are being hit by increasing health premium costs every year.
As per the study, premiums for health insurance have seen an increase of 84%, compared to the year 2000. The wages have risen by 20% and inflation rates have increased by 18% in the same period.
"The major reason for these rise in costs is the rise of new and expensive treatments that have emerged in the past few years such as defibrillators & cholesterol drugs", said an analyst at RNCOS.
The study was carried out in association with Health Research & Educational Trust, American Hospital Association's non-profit research affiliate.
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