HONOLULU (AP) – A state analysis of health care insurance under Hawaii’s new exchange says rates compare favorably with other U.S. states.
The Insurance Division of the Department of Commerce and Consumer Affairs says estimated rates in Honolulu and statewide are low compared with rates in studies by the Kaiser Family Foundation and Avalere Health.
Hawaii’s insurance exchange opening Oct. 1 will offer four plans. It’s designed to bring coverage to as many people as possible under President Barack Obama’s federal health care overhaul. The law requires everyone in the country to buy health insurance by Jan. 1 or pay penalties.
The Insurance Division says rates for a 40-year-old Honolulu resident will average $217 per month. That would make Honolulu the third cheapest compared with rates in 18 cities in the Kaiser study.
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