Health insurers not responsible for rising premiums, exec says
Physicians and hospitals account for 55 percent of health costs, while pharmaceuticals represent 22 percent--up 6 percent in the last year alone, writes John D. Bennett, M.D., president and CEO of Capital District Physicians' Health Plan. Meanwhile, the percentage going to plan administration has hit a historic low.
Insurers have strived to negotiate prices with pharmaceutical manufacturers, but these efforts can also alienate some consumers who find their medications excluded from their coverage, FierceHealthPayer has reported.
State and federal governments must take legislative action to "rein in the true drivers of healthcare costs" rather than focus solely on rising premiums as insurers go through rate request processes this summer, according to the article.
To learn more:
- read the opinion piece
Insurers predict hefty premium hikes in 2017
BCBS members were sicker and more expensive following ACA expansion
The unintended consequences of health insurers' fight to lower drug prices
Survey: Specialty drug costs could rise 23% next year