Business Briefs for Monday, June 18
Koloa Farmers Market opens
KOLOA — A new farmers market has opened at the Historic Courtyard in Old Koloa Town.
The Koloa Farmers Market has space available for farmers and culinary vendors for public sales on Fridays from 2:30 to 5 p.m.
For information on vending or attending, contact Pattie at 639-3982 or the business line at 742-8377.
KIUC names Richard Vetter as Port Allen plant manager
LIHU‘E — Kaua‘i Island Utility Cooperative on Friday selected Richard Vetter as the new manager of its Port Allen power plant, effective today.
The Port Allen plant manager is a new position that was created to have a dedicated manager for the plant at KIUC’s largest power generating facility.
Vetter joined KIUC’s Production Department in June 2005. An electrical engineer, he is a graduate of Georgia Institute of Technology.
Before joining KIUC, Vetter served as a staff controls engineer at Hawaiian Electric Co. and was previously employed by Graphic Packaging International in Macon, Ga.
Richard, his wife Lori, and children Katherine, Andrew and Thomas live in Lihu‘e.
HMSA outperforms on spending per patient
HONOLULU — The Hawai‘i Medical Service Association announced Friday that it outperformed the federal standard for health care spending on its members.
The Affordable Care Act requires insurers to spend at least 80 percent of member dues on health care for individual plans and small businesses and 85 percent for larger employers. This is known as the medical loss ratio provision.
In 2011, HMSA surpassed the federal requirements by spending 87.5 percent of small business plan dues on health care, 92.2 percent of individual plan dues, and 90.5 percent of large employer dues.
The Affordable Care Act required all health plans to report their 2011 spending to the Department of Health and Human Services by June 1. Health plans that failed to meet the MLR standard must provide refunds to businesses or consumers in August.
HMSA is a nonprofit, mutual benefit association founded in Hawai‘i in 1938. HMSA is an independent licensee of the Blue Cross and Blue Shield Association.