HI HR142

Requests the Insurance Commissioner to establish a moratorium on health insurance premium rate increases by health insurers, mutual benefit societies, fraternal benefit societies, and health maintenance organizations until June 30, 2014.

Allows the Insurance Commissioner to permit rate increases only if extraordinary circumstances are found to justify them.

Cites Hawaii's high cost-of-living combined with stagnant average wages and persistent unemployment as justification for the moratorium.

Notes that health insurance premium increases have outpaced wage growth, making coverage difficult for households to afford.

Requires certified copies be transmitted to the Director of Commerce and Consumer Affairs and the Insurance Commissioner.