On December 12, state legislators received an informational briefing on latest developments in the implementation of the Patient Protection and Affordable Care Act. Insurance Commissioner Gordon Ito reported that after President Obama announced that states may decide to permit individual and small group policies to continue current policies, Hawaii insurers agreed to continue existing policies. These plans, called "transitional" or "grandmother" plans, can be renewed by individuals and small businesses with coverage in effect on October 1, 2013, for a plan year starting between January 1 and October 1, 2014. Among considerations for determining whether to purchase an ACA plan or a transitional plan include the cost of each plan, potential for a premium tax subsidy for plans purchased through the Hawaii Health Connector, and the ten essential health benefits provided by ACA plans. The Department of Commerce and Consumer Affairs has released a premium rate comparison sheet for individuals and small groups, and has provided other information on its website.
News & Announcements
Small Businesses have choice between Transitional Plans and ACA in 2014
Published Thursday, December 26, 2013 1:33 pm