News Release: Insurance Division Reduces HMSA Rate Increase Request

Posted on Dec 5, 2014 in News Releases

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Insurance Division

DAVID Y. IGE
GOVERNOR

KEALII S. LOPEZ
DIRECTOR

GORDON ITO
INSURANCE COMMISSIONER

FOR IMMEDIATE RELEASE
Dec. 5, 2014

INSURANCE DIVISION REDUCES HMSA RATE INCREASE REQUEST
Change Saves Plan Purchasers $2.3 Million in Premiums

HONOLULU —The Department of Commerce and Consumer Affairs (DCCA) Hawaii Insurance Division approved an 8.4 percent increase for Hawaii Medical Service Association (HMSA) individual transitional (“grandmother”) plans, saving plan purchasers $2.3 million in health care premiums and affecting over 8,250 covered lives.

“The hard work and in-depth analysis done by our health actuary and Division staff resulted in the disapproval of a 19 percent increase, and therefore a savings for individuals of $2.3 million,” said Insurance Commissioner Gordon Ito. “To date, the division will save health plan purchasers $25 million from mid-2014 into 2015.”

The Insurance Division also reminds consumers who are interested in signing up for or changing health insurance for 2015 that open enrollment ends on Feb. 15, 2015. To help make the process easier, the division released its health insurance premium comparison guide for 2015 Affordable Care Act (ACA) plans.

For more information and to download the premium comparison guides, visit cca.hawaii.gov/ins. Consumers with questions and concerns can contact the Division at (808) 586-2790 or email insurance@dcca.hawaii.gov.

The Hawaii Insurance Division oversees the Hawaii insurance industry; issues licenses; examines the fiscal condition of Hawaii-based companies; reviews rate and policy filings; and investigates insurance related complaints.

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Media Contact:
Lindsay Chambers
Insurance Division
Department of Commerce and Consumer Affairs
(808) 587-6735
Lindsay.K.Chambers@dcca.hawaii.gov
cca.hawaii.gov