Health Insurance Subsidies Available for Small Businesses

The Hawaiʻi Department of Labor and Industrial Relations (DLIR) received $428,864 in federal funds to help augment the Prepaid Health Care Premium Supplementation Trust Fund (PSF). The PSF allows eligible small employers to receive partial reimbursement for health care BIN SYLE ONE WORD premiums that have been paid during a business year. Since 2011, the PSF has paid out over $2 million.

On Friday, Dec. 30, 2016, Hawaiʻi was granted a waiver from the Federal Affordable Care Act requirement that a Small Business Health Options Program (SHOP) operate in the state. As a result, the related Federal Tax Credit previously available was terminated for plan years beginning after Saturday, Dec. 31, 2016. In place of the tax credit, Hawaiʻi will receive federal funds of approximately $2.7 million for plan years beginning Sunday, Jan. 1, 2017 through Friday, Dec. 31, 2021.

Section 393-45 of the Prepaid Health Care Act (PHC) details the requirements small employers must satisfy in order to qualify for a reimbursement. The requirements are as follows:

  • The employer employs less than eight employees entitled to PHC coverage.
  • The employer’s healthcare plan is approved by DLIR.
  • The employer’s share of the premium cost for eligible employees (single coverage only) must exceed 1.5% of the total wages payable to such employees and the amount of the excess must be greater than 5% of the employer’s income before taxes directly attributable to the business.

In addition, the reimbursement is only for plan years beginning Sunday, Jan. 1, 2017.

For more information on how to apply and obtain a claim form (HC-6), visit the DLIR website.

For additional questions or information, call (808) 586-9239 or email the PHC office at dlir.prepaidhealthcare@hawaii.gov.

Hawaii Insurance Consumers Encouraged to Explore Options

The Department of Commerce and Consumer Affairs’ Insurance Division released its annual premium comparison publications for motor vehicle, homeowner, condominium, and renters insurance.

“These publications help consumers make the right decisions for their insurance needs,” said Insurance Commissioner Gordon Ito.  “We encourage people to use these guides as a tool to shop and compare for the appropriate coverage and price.”

The lists of sample premium rates can be used as a guide to see what consumers’ insurers are charging compared to its competitors.  The premium publications help consumers research and explore options and ensure greater competition in the insurance marketplace.

Feel free to download and share the consumer information below. If you have any questions, please contact the Insurance Division at (808) 586-2790 or insurance@dcca.hawaii.gov.

(PDF) Insurance Division Overview

Health Insurance

(PDF) Hawaii Patients’ Bill of Rights

(PDF) 2017 ACA Individual Rates

(PDF) 2016 ACA Small Group Rates

Small Business Health Options (SHOP)

Home Insurance

(PDF) Homeowners Premium Comparison Publication 2017

(PDF) Condominium Unit Owners Premium Comparison Publication 2017

(PDF) Renters Premium Comparison Publication 2017

Prior Home Insurance Premium Comparisons

Motor Vehicle Insurance

(PDF) Motor Vehicle Insurance Premium Comparison & Consumer Complaints Publication 2017

Prior Motor Vehicle Insurance Premium Comparisons

Natural Disasters

(PDF) Lava Flow Informational Brochure

(PDF) Tips for Storm Claims

(PDF) Guide to Hurricane Strengthening for Hawaii Single-Family Residences

Insurance Fraud

(PDF) What is Insurance Fraud?

National Association of Insurance Commissioners (NAIC)

Insure U – Get Smart About Insurance