HI SB2665

Authorizes employers subject to Hawaii labor law to offer group health savings account programs as an alternative option to traditional group health insurance policies, effective July 1, 2016.

Requires employers offering health savings accounts to contribute at least 80% of the annual deductible amount for high-deductible health plans, with total contributions not exceeding Internal Revenue Code section 223 limits.

Mandates insurers, mutual benefit societies, and health maintenance organizations to include one-page plain-language declarations explaining program terms, covered services, deductibles, and tax benefits when offering health savings account programs.

Protects health savings account funds from creditor claims, attachment, garnishment, and legal process to satisfy debts or liabilities of account holders.

Requires insurers and mutual benefit societies to file annual reports with the Hawaii Insurance Commissioner by June 30 detailing participation rates, employer and employee contributions, and account disbursements.