Illinois Senate Bill 324

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 2 2023 - 25% progression
Action: 2023-02-02 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Insurance Code and the Health Maintenance Organization Act. Provides that all individual and small group accident and health policies written subject to certain federal standards must file rates with the Department of Insurance for approval. Provides that unreasonable rate increases or inadequate rates shall be disapproved. Provides that when an insurer files a schedule or table of premium rates for individual or small employer health benefit plans, the Department of Insurance shall post notice of the premium rate filings, rate filing summaries, and other information about the rate increase or decrease online on the Department's website. Provides that the Department shall open a 30-day public comment period on the date that a rate filing is posted on the website. Provides that after the close of the public comment period, the Department shall issue a decision to approve, disapprove, or modify a rate filing, and post the decision on the Department's website. Provides that the Department shall adopt rules implementing specified procedures. Defines "inadequate rate" and "unreasonable rate increase".

INS-HEALTH CARE/RATE APPROVAL

Sen. Laura Fine [D]

Date	Chamber	Action
2023-02-02	Senate	Referred to Assignments
2023-02-02	Senate	First Reading
2023-02-02	Senate	Filed with Secretary by Sen. Laura Fine

Chapter	Article	Section	Citation Type	Statute Text
215	125	4-12	Amended Code	Citation Text
215	5	355	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=324&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB0324.htm