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State Insurance Division cuts HMSA's proposed rate hike

By Kristen Consillio

LAST UPDATED: 3:36 p.m. HST, May 1, 2013

The state Insurance Division has reduced Hawaii Medical Service Association’s proposed 8.6 percent premium rate increase for small businesses renewing health policies in July.

The division, which regulates health plan rates, instead approved a 6.8 percent rate hike for an estimated 118,000 Hawaii consumers in a move it said would save businesses about $10 million.

HMSA has yet to respond to the rate reduction.

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