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-rate d groups, but said the increases were less than The increases, which take effect July 1, rangew from 4.2 percent for the Health Plan Hawaiiu Plus, to 12.1 percentf for the HMSA Preferred Provider Plan and the HMSA CompMEDf plan, according to a news releasee from HMSA. “We appreciate how difficulft it is for business owners during this economidc downturn and the last thing we want to do is makethingx harder,” said Steve Van Ribbink, executive vice president and chiefr financial officer.
“But the fact is that this adjustmenris necessary, and it’s good to know that an outsides independent party like the state Insurance Division agrees that it is HMSA, which is the state’s dominant health plan with 703,47 7 members, posted a loss of some $36 million in and last month reportede a $13.9 million loss in the firsyt quarter of 2009. “We are currently in a situationmwhere double-digit increases in healt care costs are outpacinh increases in member dues,” said Van “We’re working hard to keep our administrative expensees low, increase our operational efficiencies and generate the greatesy value for our members.
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