HI HB1416

Requires the Department of Human Services to adopt rules by January 1, 2025 to remove the $2,000-per-individual liquid asset limit for med-QUEST program eligibility, contingent on Centers for Medicare and Medicaid Services approval of a Hawaii state plan amendment.

Directs the Department of Human Services to submit a report to the legislature by twenty days before the 2026 regular session detailing the effects of removing the asset limit, including impacts on applications, qualifying individuals, and administrative cost savings.

Eliminates a barrier that currently suspends medical insurance coverage for med-QUEST patients whose savings exceed $2,000, allowing recipients to build financial safety nets without losing eligibility.

Seeks to reduce administrative costs by eliminating the need to verify bank account balances and life insurance cash values during application reviews, resulting in faster assistance delivery.