HB 1458 Summary

• Establishes a rate adjustment recommendation board within the Insurance Division to advise the Insurance Commissioner on health insurance rate filings under Hawaii Revised Statutes chapter 431:14G.

• Board consists of seven members: representatives from the Chamber of Commerce of Hawaii, Hawaii Small Business Administration, Hawaii Society of Certified Public Accountants, a private sector union, an insurance carrier, and two members appointed from nominees submitted by the House Speaker and Senate President.

• Board members are appointed by the governor, serve without compensation but receive reimbursement for expenses, and are selected based on experience in health insurance rate policy development.

• Board may hold public hearings during the waiting period for rate filings and must keep confidential or proprietary information from rate filings exempt from public disclosure.

• Commissioner must consider board recommendations received before the rate filing waiting period expires but is not bound by them; if disagreeing with the board, the commissioner must state specific reasons in writing.