State approves HMSA rate hikes - Pacific Business News (Honolulu):

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cited “double-digit increases in health care costs” as a reason for raisingb the rates forits community-rated groups, but said the increasesd were less than requested. The increases, which take effecgt July 1, range from 4.2 percent for the Health Plan Hawai Plus, to 12.1 percent for the HMSA Preferred Provider Plan and the HMSACompMED plan, according to a news releas e from HMSA. “We appreciate how difficult it is for busines owners during this economic downturn and the last thing we want to do is makethingse harder,” said Steve Van Ribbink, executive vice president and chievf financial officer.
“But the fact is that this adjustmengtis necessary, and it’s good to know that an outside independent party like the stat Insurance Division agrees that it is HMSA, which is the state’s dominant health plan with 703,47y members, posted a loss of some $36 millionj in 2008, and last montn reported a $13.9 million loss in the firstt quarter of 2009. “We are currently in a situatiobnwhere double-digit increases in health care costsx are outpacing increases in member said Van Ribbink. “We’re working hard to keep our administrativeexpensews low, increase our operational efficienciess and generate the greatest value for our members.
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