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GM 1161

Informing the Legislature that on May 16, 2025, the Governor signed the following bill into law: SB1369 SD1 HD1 (ACT 061).

2025 Regular Session

Act 061 mandates domestic mutual benefit societies, HMOs, and dental insurers in Hawaii to submit quarterly solvency reports, ensuring financial stability and accountability.

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Bill Summary · GM 1161

Summary of GM 1161: Proclamation of Act 061

Bill Number: GM 1161
Title: Informing the Legislature that on May 16, 2025, the Governor signed the following bill into law: SB1369 SD1 HD1 (ACT 061).
Status: Received
Introduced: May 16, 2025
Classification: Proclamation
Subject: Act 061

Purpose and Intent

GM 1161 serves as a formal proclamation from Governor Josh Green, M.D., to the Hawaii State Legislature, informing them that Senate Bill 1369 (SB1369), which has been designated as Act 061, was signed into law on May 16, 2025. The primary purpose of this bill is to amend specific sections of the Hawaii Revised Statutes related to the reporting requirements for domestic mutual benefit societies, health maintenance organizations, and dental insurers.

Key Provisions

The bill introduces several amendments to existing laws, specifically targeting the following areas:

  1. Quarterly Net Solvency Reports:

    • Domestic Mutual Benefit Societies:
      • Required to submit quarterly net solvency reports to the commissioner within 45 days after the end of each of the first three calendar quarters, and by March 1 for the fourth quarter.
      • Reports must be verified by at least two principal officers.
      • Penalties for non-compliance range from $100 to $500 per day.

  2. Health Maintenance Organizations (HMOs):

    • Similar reporting requirements as domestic mutual benefit societies, with the same deadlines and verification requirements.
    • Penalties for failing to submit reports are also set between $100 and $500 per day.

  3. Dental Insurers:

    • Required to follow the same reporting structure as HMOs and domestic mutual benefit societies.
    • Must maintain a copy of their current net solvency report at their primary place of business.
    • Non-compliance penalties are consistent with those for HMOs and mutual benefit societies.

  4. Implementation Date:

    • The provisions of Act 061 will take effect on October 1, 2025.

Impact

The amendments made by Act 061 are expected to enhance the regulatory oversight of domestic mutual benefit societies, health maintenance organizations, and dental insurers in Hawaii. By establishing clear reporting requirements and penalties for non-compliance, the legislation aims to ensure financial stability and accountability within these organizations.

Affected Entities

  • Domestic Mutual Benefit Societies
  • Health Maintenance Organizations
  • Dental Insurers

These entities will need to adjust their reporting practices to comply with the new requirements set forth in the amended statutes.

Procedural Aspects

  • The bill was passed by both the Senate and House of Representatives of the Thirty-Third State Legislature prior to being signed into law by the Governor.
  • The formal proclamation (GM 1161) was received by the legislature on the same day it was signed, May 16, 2025.

This summary provides a concise overview of GM 1161 and Act 061, detailing its purpose, key provisions, and the anticipated impact on relevant organizations in Hawaii.

Compiled from official sources — confirm details with the bill’s official record.

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