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

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cited “double-digit increases in health care as a reason for raising the rates forits community-rated but said the increases were less than The increases, which take effecft July 1, range from 4.2 percent for the Healthy Plan Hawaii Plus, to 12.1 percent for the HMSA Preferredx Provider Plan and the HMSA CompMED plan, accordinv to a news release from HMSA. “Wer appreciate how difficult it is for business owners duringb this economic downturn and the last thing we want to do is make things harder,” said Steve Van Ribbink, executiver vice president and chief financial officer.
“But the fact is that this adjustment is necessary, and it’s good to know that an outsidwe independent party like the stater Insurance Division agrees that it is necessary.” which is the state’s dominant health plan with 703,47 7 members, posted a loss of some $36 millio n in 2008, and last montjh reported a $13.9 million loss in the first quartee of 2009. “We are currently in a situatiohwhere double-digit increases in health care costs are outpacingf increases in member dues,” said Van Ribbink. “We’re workinb hard to keep our administrative expenses low, increase our operationap efficiencies and generate the greatesrt value for our members.
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