STAND. COM. REP. 837

Honolulu, Hawaii

, 2003

RE: H.B. No. 18

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on Finance, to which was referred H.B. No. 18 entitled:

"A BILL FOR AN ACT RELATING TO PHARMACEUTICAL BENEFIT MANAGEMENT COMPANIES,"

begs leave to report as follows:

The purpose of this bill is to establish fiduciary duties and obligations for pharmaceutical benefit management companies that administer or manage prescription drug benefit coverage to their clients.

The Hawaii State AFL-CIO submitted testimony in support of this measure. Caremark Inc., AdvancePCS, and Medco Health Solutions, Inc., opposed this measure. Ogawa & Associates submitted comments.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 18 and recommends that it pass Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Finance,

 

____________________________

DWIGHT Y. TAKAMINE, Chair