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Insurance CEO: Shut down Hawaii health exchange

May 9, 2014 - 9:06pm

HONOLULU — The chief executive of Hawaii’s largest health insurance company is calling on Hawaii to shut down its beleaguered health insurance exchange.

Michael Gold, president and CEO of Hawaii Medical Services Association, says the state shouldn’t keep spending money on a system that is financially unsustainable and does not work.

Gold says Hawaii should ask the federal government for an exception to the part of the Affordable Care Act that requires states to run their own insurance exchanges.

He proposes that businesses buy insurance plans directly from the insurance companies. Individuals would do the same, buying directly through insurers, or the federal government could take over that part of the exchange.

The Hawaii Health Connector was awarded about $200 million in federal funds and enrolled about 9,200 people in six months.

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