HONOLULU — A state analysis of health care insurance under Hawaii’s new exchange says rates compare favorably with other U.S. states.
The Insurance Division of the Department of Commerce and Consumer Affairs says estimated rates in Honolulu and statewide are low compared with rates in studies by the Kaiser Family Foundation and Avalere Health.
Hawaii’s insurance exchange, opening
Oct. 1, will offer nearly 100 plans in four tiers. It’s designed to bring coverage to as many people as possible under President Barack Obama’s federal health care overhaul. The law requires everyone in the country to buy health insurance by Jan. 1 or pay penalties.
The Insurance Division says rates for a 40-year-old Honolulu resident will average $217 per month, before tax credits and reimbursements. That would make Honolulu the third cheapest compared with rates in 18 cities in the Kaiser study, which ranged in monthly costs from $201 to $413. The cheapest rate average was in Portland, Ore.
The Avalere study compared the tiers offered across 12 states. Hawaii’s insurance division said its rates were lower than the states studied, including Maryland, Virginia and New York.
Hawaii Gov. Neil Abercrombie said the state is continuing to try to lead in implementing the law.
“We are working together toward our shared goal of universal health care and ensuring access to quality health care for everyone in our state,” Abercrombie said in a statement.