STAND. COM. REP. NO. 2896

Honolulu, Hawaii

RE: S.B. No. 2804

S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Sir:

Your Committees on Commerce and Consumer Protection and Judiciary, to which was referred S.B. No. 2804, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO COMMERCE,"

beg leave to report as follows:

The purpose and intent of this measure is to prohibit the acquisition and holding of stocks and other interests if the acquisition and holding lessens access to health care or increases insurance rates.

Your Committees received testimony in support of this measure from one individual.

Your Committees received comments on this measure from the Insurance Division of the Department of Commerce and Consumer Affairs and Hawaii Medical Service Association.

Your Committees find that the health insurance sector is undergoing a period of significant market realignment. This measure provides safeguards to preserve competition, retain choice and access for consumers, and ensure that the health care system remains responsive to patient needs.

As affirmed by the records of votes of the members of your Committees on Commerce and Consumer Protection and Judiciary that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2804, S.D. 1, and recommend that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committees on Commerce and Consumer Protection and Judiciary,

________________________________ KARL RHOADS, Chair

________________________________ JARRETT KEOHOKALOLE, Chair