Section 12-11-16 - Existing and new plans(a) Benefits under any plan shall, in the aggregate, be deemed to be "at least as favorable" only if: (1) A waiting period of no more than seven days is required; and(2) The aggregate actuarial value, as determined under section 12-11-17, of the cash disability benefits for each employee is equivalent to the aggregate actuarial value, as determined under section 12-11-17, of the disability benefits under section 392-41, HRS; and(3) Cash disability payments are payable at the rate of 100 per cent of wages and for at least three weeks in a benefit year under a plan with no waiting period, and cash disability payments are payable for at least fifteen weeks in a benefit year under a plan with a two-day waiting period which provides cash disability payments at the rate of 58 per cent of wages.[Eff 5/11/81; am 1/16/93] (Auth: HRS § 392-91) (Imp: HRS §§ºº392-22, 392-41)