HI HCR174

Urges the Department of Labor and Industrial Relations to prepare a checklist for employers seeking to offer high deductible health plans paired with health savings accounts.

Checklist should facilitate the submission and approval process under section 393-7(b) of Hawaii Revised Statutes and avoid administrative submission issues with the Prepaid Health Care Advisory Council.

Acknowledges that employers subject to Hawaii's Prepaid Health Care Act must receive Director approval to offer healthcare options like high deductible health plans with health savings accounts in addition to prepaid health care coverage.

Notes that high deductible health plans with health savings accounts may satisfy Hawaii law requirements if structured with specified employer contribution levels to health savings accounts and dependent coverage costs.

Highlights federal and state tax benefits for employees, including deductible HSA contributions, tax-free growth, and tax-exempt distributions for qualified medical expenses.