HB 1050 Summary

• Amends net solvency report filing requirements for mutual benefit societies, health maintenance organizations, and dental insurers under Hawaii Revised Statutes Sections 432:1-407, 432D-8, and 432G-6

• Changes quarterly reporting deadline from "forty-fifth day of each quarter" to "forty-fifth day after each of the first three calendar quarters" with fourth quarter reports due by March 1 of the following year

• Requires organizations to "submit" rather than merely "produce" quarterly net solvency reports for commissioner review, verified by at least two principal officers

• Maintains penalties of $100 to $500 per day for organizations that fail or refuse to prepare or submit required quarterly net solvency reports

• Takes effect July 1, 2050