HB2888 97TH GENERAL ASSEMBLY

LRB097 06907 RPM 47000 b

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.

A BILL FOR

AN ACT concerning 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 adding Section 354a as follows:

(215 ILCS 5/354a new)

Sec. 354a. Minimum medical loss ratio. 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 this amendatory Act of the 97th General Assembly shall expend in the form of health care benefits no less than 85% of the aggregate premiums collected by the insurer.