HI HB1017

Excludes Medicare income-related monthly adjustment amounts (IRMAA) from reimbursement by the State and counties for retired employees hired after June 30, 2023, and their spouses.

Current retirees, vested terminated employees, and current employees are not affected by this change.

Estimated to reduce future state annual required contributions by $400 million over a 30-year period through elimination of IRMAA reimbursement for new hires.

Amends Section 87A-23, Hawaii Revised Statutes, to modify the health benefits plan supplemental to Medicare under the Hawaii Employer-Union Health Benefits Trust Fund.

Takes effect upon approval.