HRS §431:10A-401
Why this insurance law exists
This law lets insurance companies work together to offer health and accident insurance to people 65 and older and their spouses. The goal is to make these policies cheaper and more available than if each company sold them alone. The state will oversee these joint efforts.
spouses
The statute, as written — Purpose
It is the purpose of this part to provide a means of more adequately meeting the needs of persons who are sixty-five years of age or older and their spouses for insurance coverage against financial loss from accident or disease through the combined resources and experience of a number of insurers; to make possible the fullest extension of such coverage by encouraging insurers to combine their resources and experience and to exercise their collective efforts in the development and offering of policies of such insurance to all such applicants at costs lower than those generally available through individual insurers; and to regulate the joint activities herein authorized in accordance with the intent of Congress as expressed in the Act of Congress of March 9, 1945 (Public Law 15, 79th Congress), as amended.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.