Hawaii Health Insurance Report Gains
Honolulu, Hawaii – Hawaii health insurance companies have announced the third-quarter profits, since September, and they are more profitable than residents of Hawaii might have expected. Hawaii’s largest health insurance provider reported a net gain of $12.94 million after tax. Hawaii Medical Service Association (http://www.hmsa.com/) earned revenue of $512 million and spent $502 million in benefits and administrative expenses.
HMSA also reported investment gains of $5.42 million. They say this will help prevent losses and create special health initiatives in the future.
Hawaii’s Kaiser Permanente reported a net loss of $800,000 during this last quarter. (files from businessweek.com)
Health Premiums Rose 63% in 7 years: Study
From 2003 to 2010, US workers’ health insurance premiums rose 63 per cent as the employees shifted the burden of rising medical costs to individuals and families. The total cost of insuring a family through employer-sponsored health insurance rose to reach an average of $13, 871, an increase of 50 per cent.
“Health insurance is ever more expensive,” said Cathy Schoen, senior vice-president of the Commonwealth Fund, the group who led the study.
Health insurance consumers in Hawaii will be happy to know that among the nation’s states, Hawaii’s out-of-pocket health insurance expenses were among the lowest, at an average of $519.
If the trend of rising health care costs continues, the average premium for family coverage would increase 72 per cent to almost $24, 000 a year for health insurance benefits by 2020. New provisions to health care law may slow the trend and allow families to save more than $2,000 a year for family health insurance. (files from Bloomberg.com)
Hawaii’s First Online Medical Service – Say ‘Aah’
Why drive to the doctor’s office when you can simply turn on your webcam and speak to a doctor? Say goodbye to potentially contagious waiting rooms and enjoy a doctor’s care from the comforts of your home. Since January, the Hawaii Medical Service Association (HMSA) online care program has offered patients’ doctor’s visits without visiting the doctor.
This is the first of its kind in the nation and within the health network, so health insurance provides coverage for people who use this online service, whether they are insured by HMSA or other health insurance companies. Even the uninsured can use the service.
The online health care program has more than 1,000 registered users so far and around 140 participating physicians. Organizers say it’s a good idea to register before you have a medical issue, so you’re not panicking while you try to register.
How do the HMSA online health services work?
- Log in to chat with a doctor online.
- Those insured with HMSA pay $10 for a 10-minute session. Those insured with other Hawaii health insurance companies pay $45 per session. A 5-minute extension for HMSA members of $5, and $12.50 for non-members.
- Available 24-hours a day online, seven days a week with minor system shut downs for maintenance.
- HMSA pays their physicians $25 for a 10-minute session during business hours, and $35 for after hour care.
(files from honolulumagazine.com)
Additional Reference to Health Insurance in Hawaii
- Hawaii Insurance Bureau http://www.hibinc.com
- Hawaii State Government – Insurance http://hawaii.gov/dcca/ins/
- Hawaii Medical Service Association http://www.hmsa.com/
- COBRA health insurance – Hawaii http://cobrahealthinsurance.com/Resource/Hawaii_Cobra_Health_Insurance.html