Kaiser executive says Hawaii insurer losing money every year

Kaiser executive says Hawaii insurer losing money every year

HONOLULU (AP) - The president of Kaiser Foundation Health Plan and Hospitals of Hawaii told employees in a memo that the health plan is losing money and has no plan for sustainable growth.

The Honolulu Star-Advertiser reported Sunday that Ron Vance detailed the troubles facing Kaiser Permanente Hawaii as the state’s second-largest medical insurer has fallen behind competitors.

Kaiser is Hawaii’s largest health maintenance organization serving as both a medical provider and health insurer covering more than 250,000 members.

Officials say it is second in market share to the Hawaii Medical Service Association, which has 729,000 members.

Vance’s recent memo says the health plan recorded a year-to-date loss of $88 million in the third quarter that ended in September and is projecting a substantially higher loss in 2020.

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