Adjusts the Hawaii Employer-Union Health Benefits Trust Fund's base composite monthly contribution based on changes in Medicare Part B premium rates.
Hawaii HB1040 amends the base composite monthly contribution for the Hawaii Employer-Union Health Benefits Trust Fund. Starting January 1, 2026, the contribution will increase by 5.2%. For subsequent years, the contribution will be adjusted based on the percentage change in the Medicare Part B premium rate. This adjustment is calculated by comparing the premium rate at the start of the previous plan year to the rate at the start of the year before that. The bill repeals previous statutory material and takes effect upon approval.
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