Bill Text: HI SB1272 | 2012 | Regular Session | Amended

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Bill Title: Insurance; Risk-Based Capital.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [SB1272 Detail]

Download: Hawaii-2012-SB1272-Amended.html

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STAND. COM. REP. NO. 735

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 1272

       S.D. 2

 

 

 

Honorable Shan S. Tsutsui

President of the Senate

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 1272, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO INSURANCE,"

 

begs leave to report as follows:

 

     The purpose and intent of this measure is to adopt the National Association of Insurance Commissioners' Risk-Based Capital for Health Organizations Model Act.

 

     Your Committee received comments in support of this measure from Gordon Ito, State Insurance Commissioner, Department of Commerce and Consumer Affairs; and Hawaii Medical Service Association.

 

     Your Committee finds that the model act applies consistent regulatory treatment to health maintenance organizations, mutual benefit societies, fraternal benefit societies, managed care plans, and similar risk-bearing entities.  Furthermore, adoption of the model laws and regulations of the National Association of Insurance Commissioners is essential for the Insurance Division to retain its accreditation by the National Association of Insurance Commissioners.

 

     Your Committee has amended this measure by:

 

(1)  Changing the effective date to July 1, 2050, in order to facilitate further discussion on the measure; and

(2)  Making technical nonsubstantive amendments for the purposes of clarity and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1272, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 1272, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

		____________________________ DAVID Y. IGE, Chair