Bill Title: Amends the Illinois Insurance Code. Provides that a group or individual policy of accident and health insurance amended, delivered, issued, or renewed on or after January 1, 2024 that provides coverage for prescription drugs shall require that a covered individual's defined cost sharing for each prescription drug shall be calculated at the point of sale based on a price that is reduced by an amount equal to at least 100% of all rebates received in connection with the dispensation or administration of the prescription drug. Provides that an insurer shall apply any rebate amount in excess of the defined cost sharing amount to the health plan to reduce premiums. Provides that the provisions shall not preclude an insurer from decreasing a covered individual's defined cost sharing by an amount greater than the stated amount at the point of sale. Provides that the Department of Insurance may adopt rules to implement the provisions.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2024-02-09 - Added Co-Sponsor Rep. Jenn Ladisch Douglass [HB1054 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-01-11	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB1054

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB1054 currently on file.

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