HI HB1201

Establishes the Hawaii Health Benefit Exchange as a private, nonprofit entity to facilitate the purchase and sale of qualified health insurance plans in compliance with the federal Patient Protection and Affordable Care Act.

Creates a nine-member board of directors appointed by the governor with advice and consent of the senate, serving four-year terms, with the governor selecting the chairperson and vice-chairperson.

Requires the exchange to be self-sustaining by January 1, 2015, with the board authorized to establish fees to offset administrative costs.

Mandates the exchange board to work with the state health insurance exchange task force and submit proposed implementing legislation to the legislature by 20 days prior to the 2012 regular session.

Preserves the existing Prepaid Health Care Act (Chapter 393) and does not alter its provisions.