Sunday, June 16, 2024
Hawai'i Free Press

Current Articles | Archives

Tuesday, October 6, 2015
Obamacare Rate Hikes Approved: 27% HMSA, 34% Kaiser
By News Release @ 2:34 AM :: 4712 Views :: Health Care

Hawaii Health Insurance Rates for 2016 Published

News Release from DCCA Insurance Division, October 5, 2015

HONOLULU — The Department of Commerce and Consumer Affairs Insurance Division released final decisions for 2016 Affordable Care Act (ACA) individual and small group health insurance rates.

Rate changes approved for 2016 vary by plan type. Final approved rate filings can be found at http://cca.hawaii.gov/ins/2016-aca-individual-and-small-group-filing. These rates are expected to affect approximately 34,000 individuals currently purchasing health insurance on their own through the ACA marketplace. Small group rates apply to plans for businesses with 50 or fewer full-time employees.

“We were extremely concerned by the requested increases by insurers for 2016 ACA individual plans,” said State Insurance Commissioner Gordon Ito. “Nobody likes to see prices go up for the individual consumer. However, upon close review of the carriers’ expenses, benefits paid, and other considerations our rate analysts and actuaries found premium increases were necessary for the carriers to cover their costs, enabling them to continue to pay their customers’ claims.”

Hawaii law mandates that insurance rates cannot be excessive, inadequate, or unfairly discriminatory. In the case of ACA individual plans, the 2015 rates were inadequate and needed to be adjusted significantly in 2016.

The Hawaii Insurance Division found several reasons for the 2016 rate increases. These factors were “pent up demand” for services sought by previously uninsured individuals, transitional plans and previously low penalties for ignoring ACA’s individual mandate keeping healthy populations out of the marketplace, high cost specialty drugs, and ACA taxes and fees.

A 2015 report by the Centers for Medicare & Medicaid Services shows average Hawaii health premiums for individual ACA plans are among the lowest nationwide. At an average cost of $289.64, before marketplace tax credits or subsidies, Hawaii was the 45th state in terms of average monthly premiums. By contrast, average monthly premiums in the most expensive state to purchase health insurance in were $522.73.

Individuals and small businesses are encouraged to review and understand the offered ACA plans and to check their eligibility for premium tax credits prior to the open enrollment for individuals on Nov. 1, 2015.

###

SA: State approves 27% Obamacare rate hike for HMSA; 34% for Kaiser

PBN: Hawaii insurers Kaiser, HMSA, get OK to increase insurance rates by roughly 30%

HPR: California Governor Signs Bill Allowing Doctors to Kill off Expensive so-called 'Terminal' Patients

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii