97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB2888

 

Introduced 2/22/2011, by Rep. Michelle Mussman

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/354a new

    Amends the Illinois Insurance Code. Provides that every insurer that issues, delivers, amends, or renews a group or individual policy of accident and health insurance or managed care plan after the effective date of the amendatory Act shall expend in the form of health care benefits no less than 85% of the aggregate premiums collected by the insurer.


LRB097 06907 RPM 47000 b

 

 

A BILL FOR

 

HB2888LRB097 06907 RPM 47000 b

1    AN ACT concerning insurance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by adding
5Section 354a as follows:
 
6    (215 ILCS 5/354a new)
7    Sec. 354a. Minimum medical loss ratio. Every insurer that
8issues, delivers, amends, or renews a group or individual
9policy of accident and health insurance or managed care plan
10after the effective date of this amendatory Act of the 97th
11General Assembly shall expend in the form of health care
12benefits no less than 85% of the aggregate premiums collected
13by the insurer.