Full Text of HB3320 101st General Assembly
HB3320enr 101ST GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning regulation.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Insurance Code is amended by | 5 | | changing Section 511.101 as follows:
| 6 | | (215 ILCS 5/511.101) (from Ch. 73, par. 1065.58-101)
| 7 | | (Section scheduled to be repealed on January 1, 2027)
| 8 | | Sec. 511.101. Definitions. For the purpose of this Article:
| 9 | | (a) "Administrator" means any person who on behalf of a | 10 | | plan sponsor or
insurer receives or collects charges, | 11 | | contributions or premiums for, or
adjusts or settles claims on | 12 | | residents of this State in connection with
any type of life or | 13 | | accident or health benefit provided through or as an
| 14 | | alternative to insurance within the scope of Class 1(a), 1(b) | 15 | | or 2(a) of
Section 4 of this the Illinois Insurance Code, other | 16 | | than any of the following:
| 17 | | (1) A corporation, association, trust or partnership | 18 | | which is administering
a plan (i) on behalf of the | 19 | | employees of such corporation, association,
trust or | 20 | | partnership or (ii) for the employees of one or more | 21 | | subsidiaries
or affiliated corporations or affiliated | 22 | | associations, trusts or partnerships;
| 23 | | (2) A union administering a plan for its members;
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| 1 | | (3) A plan sponsor administering its own plan;
| 2 | | (4) An insurer or dental service plan to the extent | 3 | | regulated by this the Illinois Insurance Code;
| 4 | | (5) A producer licensed in this State whose insurance | 5 | | activities are limited
to the scope of such license;
| 6 | | (6) A trust and its trustees and employees acting | 7 | | pursuant to its trust
agreement established in conformity | 8 | | with 29 U.S.C. 186;
| 9 | | (7) A person who adjusts or settles claims in the | 10 | | normal course of such
person's practice or employment as an | 11 | | attorney-at-law, and who does not
collect contributions or | 12 | | premiums in connection with life or accident or
health | 13 | | coverage;
| 14 | | (8) A person who administers only self-insured | 15 | | workers' compensation plans,
or single employer self | 16 | | insured life or accident or health benefit plans;
| 17 | | (9) A credit card issuing company which advances for | 18 | | and collects
premiums or charges from its credit card | 19 | | holders who have authorized such
collection, if such | 20 | | company does not adjust or settle claims;
| 21 | | (10) A creditor on behalf of its debtors with respect | 22 | | to insurance
covering a debt between the creditor and its | 23 | | debtors.
| 24 | | (b) "Covered Individual" means any individual eligible for | 25 | | life or accident
or health benefits under a plan.
| 26 | | (c) "Contributions" means any money charged a covered |
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| 1 | | individual, plan
sponsor or other entity to fund the | 2 | | self-insured portion of any plan in
accordance with written | 3 | | provisions of the plan or contracts of insurance.
Contributions | 4 | | shall include administrative fees charged to a covered
| 5 | | individual. Administrative fee means any compensation paid by a | 6 | | covered
individual for services performed by the | 7 | | administrator.
| 8 | | (d) "Premiums" means any money charged a covered | 9 | | individual, plan sponsor
or other entity to provide life or | 10 | | accident or health insurance under a
plan. The term premium | 11 | | shall include amounts paid by or charged to a covered
| 12 | | individual plan sponsor or other entity for stop loss or excess | 13 | | insurance.
| 14 | | (e) "Charges" means any compensation paid by a plan sponsor | 15 | | or insurer
for services performed by the administrator.
| 16 | | (f) "Administrator Trust Fund", hereinafter referred to as | 17 | | "ATF", means
a special fiduciary account established and | 18 | | maintained by an administrator
pursuant to Section 511.112 in | 19 | | which contributions and premiums are deposited.
| 20 | | (g) "Claims Administration Services Account", hereinafter | 21 | | referred to
as "CASA", means a special fiduciary account | 22 | | established and maintained
by an administrator pursuant to | 23 | | Section 511.112 of this Code from which
claims and claims | 24 | | adjustment expenses are disbursed.
| 25 | | (h) "Plan Sponsor" means any person other than an insurer, | 26 | | who establishes
or maintains a plan covering residents of this |
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| 1 | | State, including but not
limited to plans established or | 2 | | maintained by 2 or more employers or
jointly by one or more | 3 | | employers and one or more employee organizations,
the | 4 | | association, committee, joint board of trustees, or other | 5 | | similar group
of representatives of the parties who establish | 6 | | or maintain the plan.
| 7 | | Provided, however, that "Plan Sponsor" shall not include:
| 8 | | (1) The employer in the case of a plan established or | 9 | | maintained by a
single employer; or
| 10 | | (2) The employee organization in the case of a plan | 11 | | established or
maintained by an employee organization.
| 12 | | No plan sponsor covered in whole by provisions of the | 13 | | Employee Retirement
Income Security Act of 1974 (ERISA) shall | 14 | | be covered by any of the
provisions of this Act to the extent | 15 | | that such provisions are inconsistent
with or in conflict with | 16 | | any provisions of ERISA as now or hereafter amended.
| 17 | | (i) "Financial Institution" means any federal or state | 18 | | chartered bank
or savings and loan institution which is insured | 19 | | by the Federal Deposit
Insurance Corporation (FDIC) or the | 20 | | Federal Savings and Loan Insurance
Corporation (FSLIC).
| 21 | | (j) "Plan" means any plan, fund or program established or | 22 | | maintained by
a plan sponsor or insurer to the extent that such | 23 | | plan, fund or program
was established or is maintained to | 24 | | provide through insurance or alternatives
to insurance any type | 25 | | of life or accident or health benefit within the scope
of Class | 26 | | 1(a), 1(b) or 2(a) of Section 4 of the Illinois Insurance Code.
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| 1 | | (k) "Insurer" means any person who transacts insurance or | 2 | | health care
service business authorized under the laws of this | 3 | | State.
| 4 | | (l) "Quasi-resident" means a nonresident licensee who | 5 | | produces 50% or
more of his contributions and premium volume | 6 | | during a calendar year from
residents of this State.
| 7 | | (Source: P.A. 84-1431 .)
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