Report: Prescription drug prices declined slightly in 2017

Dec. 18--CONCORD -- The state Insurance Department today released its annual report on health insurance and health care costs in the state, and for the first time in many years prescription drug prices were not the major cost driver.

"The information contained in this report is critical to understanding health insurance costs in New Hampshire," said Insurance Commissioner John Elias. "It can help policymakers, insurance companies, and other stakeholders make informed decisions about our health insurance markets."

The report looks at 2017 data from insurance companies operating in the state.

Some of the key findings include:

--Overall average premiums increased just over 6.5 percent, with the largest increase in the individual market (6.8 percent), though the highest premiums paid were in the large group market.

--The small group market remained relatively stable.

--The largest cost drivers in the group market were inpatient and outpatient treatment, and professional fees.

--Pharmacy price increases went from 4.8 percent in 2016 to a 0.5 percent decrease in 2017.

--There was little change in the number of residents without health insurance between 2016 and 2017.

The full report is available on the Insurance Department's website, along with an abbreviated fact sheet for quick reference.

State law requires the insurance commissioner to hold an annual public hearing concerning premium rates in the health insurance market and the factors, including health care costs and cost trends, that contributed to rate increases during the prior year.

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