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State Insurance Division cuts HMSA's proposed rate hike

By Kristen Consillio

POSTED:
LAST UPDATED: 03:36 p.m. HST, May 01, 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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HonoluluHawaii wrote:
The reduction would also save HMSA members some dough. I wonder why HMSA has a chance to respond? This is almost like the unions voting to accept negotiations with the government. If HMSA says it does not like the reduction, then would the State go for a compromise such as a 7.7% increase? If a judge gives a sentence in a criminal case, the convicted do not have a chance to appeal, most of the time. Why does HMSA has a chance to appeal? We all know HMSA is going for the higher rate and if they get cut down, then so be it. Why is the State letting HMSA off the hook?
on May 1,2013 | 04:47PM
solobiker1 wrote:
BS
on May 1,2013 | 05:56PM
HonoluluHawaii wrote:
u a cop?
on May 1,2013 | 06:43PM
AieaJon wrote:
Everyone, you do know that HMSA never intended to end up with 8.6%. They shot high knowing they were going to end up with something less. They probably wanted close to the 6.8%. The State Insurance Division should have answered with 4.5%. 8.6% makes HMSA's life easy the upcoming year. 4.5% will make them work for their money during the upcoming year.
on May 1,2013 | 07:41PM
HonoluluHawaii wrote:
What we are saying is that the medical insurance industry is the biggest Ponzi Scheme in the history of the world. All the increases means is that each year we improve upon medical care, yet each year we become sicker and sicker. How could that be? Imagine if this kind of a situation existed in the automobile insurance industry. Progressive will try to outdo Geico. Geico will try to outdo All-State and sooner or later we will be paying $10,000 a year just to be able to drive. However we know that, that does not happen in the auto insurance industry. The brunt of the premiums are paid by those who transgress the system, that is to say, those who get into accidents and need to fill out SR-21s or SR-22s, and/or produce a $25,000 three year financial responsibility. That does not happen in the medical field. It costs hundreds of thousands of dollars and only a few are hogging the system. And now? We have BarryCare. Omg !!!!
on May 1,2013 | 07:55PM
5163hula wrote:
Actually, most everyone does have a chance to appeal.
on May 1,2013 | 05:04PM
HonoluluHawaii wrote:
Like George W. Bush in 2000 in his brother's state
on May 1,2013 | 06:44PM
niimi wrote:
I'm surely glad I'm not a business owner in a regulated industry. I would not government setting my market price on anything. There are many people out there who won't agree to never litigate frivolously, which in part drives up the cost of everything. Surely drug companies make a lot of money. They also spend billions on each product just to try to bring something to market. Yeah, we all want new medicines but we don't want them to make money trying, AND we all want them to get their products right the first time, AND we don't want these companies to experiment. Boy, eyes rolling, we aren't putting on too many constraints on them. NOT! A drug company may spend a billion dollars and a product will fail to get to market. And if it does, it is often 11 to 14 years since the patent was filed. Patents expire in 20 years, so you can only sell your product for 6 to 9 years tops before everyone else is allowed to copy it and sell it for a fraction WITHOUT having to spend a dime on research and development and taking all that business and capital risk to bring it to market. Then there are the health care workers, all unionized, who want more and more pay and benefits. Many of them are our friends and relatives. We really demand a lot from our Health Care system and drug companies, but we really have to look at the big picture. You can't have anything for free. Something has to give. Your friends or relatives in HC have to give up their high pay and benefits. Or we will need to enact serious tort reform and limit and cap litigation payouts. Take your pick. If not stop your whining because we are drivers of the higher costs with our own selfish demands.
on May 1,2013 | 06:46PM
boshio wrote:
Brutal. At full circle, WE ALL PAY for the rate increases by paying more for everything we buy. Soon, only the rich will be able to live a quality life.
on May 2,2013 | 06:38AM
soundofreason wrote:
See how they pitch this as GOOD news? Kinda like announcing you're gonna get raaaaped a little bit. That's good, huh?
on May 1,2013 | 06:49PM
saywhatyouthink wrote:
Yea... they didn't save employers 10 million, they increased their costs by 100 million.
on May 1,2013 | 09:18PM
olos73 wrote:
Didn't HMSA just say couple months ago they made profit? And now, they want to raise rates? Members not getting what we paying for. This past year I've been going to physical therapy for an injury. My specialist and physical therapist put in requests for sessions, but HMSA only keeps approving way less than what was requested. The last request was for 2 to 3 times a week for 15 sessions, but HMSA only approved 1, saying that after my latest evaluation I improved enough to do my own exercises/therapy at home. Who knows better, the specialist and therapist, or the one approving sessions? HMSA is a scam. The less I pay the better, because I'm not receiving the needed care.
on May 1,2013 | 06:57PM
Changalang wrote:
This comment has been deleted.
on May 1,2013 | 07:56PM
Maneki_Neko wrote:
Precisely.
on May 1,2013 | 08:13PM
Changalang wrote:
This comment has been deleted.
on May 1,2013 | 08:21PM
HonoluluHawaii wrote:
Read the editorials in Investor's Business Daily and one will see that Obama's Administration is not talked about in a good light, including the commentary that ObamaCare's Exchange is not going to fix Health Care, and that our country will further go into stagnation unless something is done soon.
on May 1,2013 | 09:07PM
Forever_Grateful wrote:
This is the first time in the 25 yrs I have lived in Hawaii that I've heard that HMSA's rate hike was denied and/or reduced to a lower pecentage. Their rate hikes are always granted without question - wonder why now? My company changed insurance companies because of their continuous rate hikes beyond a small business budget. It was always the small businesses that caught the raw end of the deal AND guess what ... Hawaii is full of small businesses. Then we'd read where the CEO got one mega $$ bonus like none of us ever see in a life time! They're supposed to be "non-profit" but has to wonder All in all, I miss HMSA - we had the cadilac of plans and they were professional and out of pocket expenses to subcribers were far less that what we're paying now.
on May 1,2013 | 08:54PM
HonoluluHawaii wrote:
A company that I worked for in the mid 1990s was approached by a startup called HMAA. Sounds very similar to HMSA does it not? Our company did not go for HMAA, yet 18 years later HMAA is still around.
on May 1,2013 | 08:59PM
HonoluluHawaii wrote:
Did u guys read the story in today's HSA about the two year old's stem cells used to generate a non-existent windpipe? That kind of a medical miracle makes one think that the high price of medicine is worth it, except one needs to consider the enormous cost of those miracles and the burden that is placed upon the rest of society.
on May 1,2013 | 08:55PM
HonoluluHawaii wrote:
Did u guys read the story in today's HSA about the two year old's stem cells used to generate a non-existent windpipe? That kind of a medical miracle makes one think that the high price of medicine is worth it, except one needs to consider the enormous cost of those miracles and the burden that is placed upon the rest of society.
on May 1,2013 | 08:55PM
Mad21 wrote:
bunch of crooks
on May 1,2013 | 09:33PM
Pocho wrote:
What happen to Obama Care. I thought it kicks in soon
on May 1,2013 | 10:17PM
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