Synopsis As Introduced Amends the Illinois Insurance Code. Sets forth provisions concerning health care cooperatives. Provides that in addition to all other provisions of the Article concerning domestic mutual companies, a company seeking to organize as a health care cooperative shall meet certain requirements. Sets forth provisions concerning the naming of and applications for entities seeking to organize as health care cooperatives. Amends the Co-operative Act. Exempts domestic mutual insurance companies licensed as health care cooperatives by the Director of Insurance from the prohibition against using the term "Co-operative" as part of a corporate or other business name or title without complying with the provisions of the Co-operative Act. Sets forth provisions concerning health benefit purchasing cooperatives. Provides that the purpose of a health benefit purchasing cooperative is to provide health care benefits for certain eligible individuals under a single group health care policy or plan through a contract between the health benefit purchasing cooperative and an insurer authorized to do health insurance business in the State. Sets forth provisions concerning the design, the articles, the membership basis and capital stock, the membership criteria, the health care benefits, and the annual progress report of health benefit purchasing cooperatives. Effective immediately.
Replaces everything after the enacting clause. Amends the Health Care Purchasing Group Act. Defines "employer" as an individual, sole proprietorship, partnership, firm, corporation, association, or any other legal entity that has one or more employees and is legally doing business in this State. Provides that "employer" includes employers as defined in the Illinois Health Insurance Portability and Accountability Act. Provides that a health care purchasing group (HPG) may be an organization formed by 2 or more employers with no more that 2,500 (instead of 500) covered employees each; makes corresponding changes. Provides that if an HPG is formed by any 2 or more employers with no more than 2,500 (instead of 500) covered employees each, it shall utilize a licensed insurance producer (instead of is authorized) to negotiate, solicit, market, obtain proposals for, and enter into group or master health insurance contracts on behalf of its members and their employees and employee dependents under certain conditions.