Hawaii’s largest insurers pulls out of health insurance exchange

Hawaii long term care insurance industry

The Hawaii Medical Services Association is abandoning the state’s insurance exchange Hawaii’s largest insurance company has pulled out of the state’s health insurance exchange, Hawaii Health Connector. The insurer, the Hawaii Medical Service Association, opted to pull its small business plans from the exchange late last week. Next year, agents working with small businesses will have only one insurer to work with through the exchange: Kaiser Permanente. The decision is not expected to affect individual health insurance plans in any way and many of the states insurers do not have…

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Insurance company withdraws from Hawaii health exchange

Hawaii Health insurance company

The largest provider in the state has now announced that it is pulling out of the troubled marketplace. The struggling Hawaii Health Connector has now experienced yet another setback, as the largest insurance company in the state has revealed that it will not be remaining within the exchange for individuals or small businesses. The Hawaii Medical Service Association (HMSA) will not be offering its plans to consumers for 2015 coverage. The insurance company announced that it has decided to cut off the small business plans that were going to be…

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Hawaii health insurance companies win approval for higher rates

Hawaii Health insurance company

Cancelled policies become more expensive in Hawaii Hawaii health insurance officials have approved rate increase proposals from some of the state’s largest insurance providers. The state’s Insurance Division has been investigating rate increase proposals to determine whether they are necessary or not and has seen a need for higher rates as insurers continue to juggle several financial issues. The new rates are primarily for insurance plans that were set to be cancelled due to the provisions of the Affordable Care Act. Several insurers have moved to continue honoring these policies,…

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