HI SB3050

Designates the Hawaii health connector as the official health insurance exchange for the State of Hawaii.

Establishes the Hawaii health insurance exchange special fund administered by the Department of Commerce and Consumer Affairs to receive surcharge revenues and support the connector's operations.

Beginning January 1, 2015, assesses a surcharge of 0.345 percent on premiums from comprehensive medical insurance plans (including dental plans) sold in the State, with collections capped at $15,000,000 annually unless increased by legislative action.

Requires the Hawaii health connector's board of directors to submit fully documented biennial budget requests to the legislature by January 31 of each year, with the legislature authorizing appropriations from the special fund based on those requests.

Mandates that the connector's annual audit results be submitted to the legislature and clarifies that the surcharge authorized by the connector shall cease once the state-authorized surcharge is implemented.