HB 1050 Hawaii House · 2025 Regular Session

RELATING TO TITLE 24, HAWAII REVISED STATUTES.

Summary

Provides amendments to net solvency report filing requirements for mutual benefit societies, health maintenance organizations, and dental insurers. Effective 7/1/2050. (SD1)

Bill status passed both 4 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Mar 2025

House Passage

Mar 2025

Senate Passage

Apr 2025

Governor

Introduced Jan 21, 2025 Last action Apr 15, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

HB1050_HD1 → HB1050_SD1 · 4 edits

MODERATE

This bill updates the net solvency reporting requirements for three types of insurance entities in Hawaii: domestic mutual benefit societies, health maintenance organizations, and dental insurers. The primary substantive change is the effective date, which was moved from October 1, 3000, to July 1, 2050, likely to align with a future legislative session or administrative rulemaking cycle. The reporting deadlines and verification requirements remain consistent across all three entity types.

Scope change

The scope of the bill remains the same, covering mutual benefit societies, health maintenance organizations, and dental insurers. No new entities were added or existing entities removed from the reporting requirements.

TIMELINE

The effective date of the act was changed from October 1, 3000, to July 1, 2050, indicating a significant delay in when these reporting requirements will become enforceable.

REQUIREMENT

The net solvency report filing deadlines were standardized across all three entity types to require submission within 45 days after each quarter, with the fourth quarter report due by March 1 of the following year.

All three entity types must now maintain a copy of their current net solvency report at their primary place of business, ensuring regulators can access documents during examinations.

ENFORCEMENT

Penalties for failure to submit reports remain consistent at $100 to $500 per day, with the commissioner retaining authority to order examinations to verify compliance.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 4, 2025

Amended

House disagrees with Senate amendment (s).

lower

Apr 3, 2025

Introduced

Returned from Senate (Sen. Com. No. 556) in amended form (SD 1).

lower

Apr 3, 2025

Upper · Passed

Passed Third Reading, as amended (SD 1). Ayes, 25; Aye(s) with reservations: none. Noes, 0 (none). Excused, 0 (none). Transmitted to House.

upper

Mar 20, 2025

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, Fukunaga, McKelvey, Richards, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Mar 14, 2025

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 03-20-25 10:00AM; Conference Room 229 & Videoconference.

upper

Mar 6, 2025

Committee

Referred to CPN.

upper

Mar 6, 2025

Introduced

Received from House (Hse. Com. No. 322).

upper

Mar 4, 2025

Lower · Passed

Passed Third Reading with none voting aye with reservations; none voting no (0) and Representative(s) Pierick, Ward excused (2). Transmitted to Senate.

lower

Feb 19, 2025

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 10 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Kong, Lowen, Marten, Tam, Pierick; Ayes with reservations: none; Noes: none; and Excused: none.

lower

Jan 23, 2025

Committee

Referred to CPC, referral sheet 3

lower

Jan 23, 2025

Introduced

Introduced and Pass First Reading.

lower

Jan 21, 2025

Introduced

Pending introduction.

lower

1 primary · 0 co-sponsors