HB4140 93RD GENERAL ASSEMBLY

LRB093 16467 SAS 42107 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4140

Introduced 1/16/2004, by Daniel J. Burke

SYNOPSIS AS INTRODUCED:

215 ILCS 5/355.1

from Ch. 73, par. 967.1

Amends the Illinois Insurance Code. Makes technical changes in a Section concerning loss of time benefits.

A BILL FOR

AN ACT in relation to insurance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Insurance Code is amended by changing Section 355.1 as follows:

(215 ILCS 5/355.1) (from Ch. 73, par. 967.1)

Sec. 355.1. Loss of time benefits; certain reductions prohibited. No claim for benefits for loss of time from the insured person's occupation, under a group or individual accident and health insurance policy delivered in this State more than 120 days after October 1, 1973 the effective date of this Section, shall be reduced by reason of any cost-of-living increase, designated as such under the Federal Social Security Act, if the such cost-of-living increase occurs while the policy's benefits are payable for that claim.

(Source: P.A. 78-603.)