The Department of Commerce and Consumer Affairs Insurance Division approved an 8.4 percent increase for Hawaii Medical Service Association individual transitional, or “grandmother,” plans, saving plan purchasers $2.3 million in health care premiums and affecting over 8,250 covered lives, the
The Department of Commerce and Consumer Affairs Insurance Division approved an 8.4 percent increase for Hawaii Medical Service Association individual transitional, or “grandmother,” plans, saving plan purchasers $2.3 million in health care premiums and affecting over 8,250 covered lives, the DCCA announced Thursday.
“The hard work and in-depth analysis done by our 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 Febuary 15. To help make the process easier, the division has released its health insurance premium comparison guide for 2015 Affordable Care Act 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.
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