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92_HB1020
LRB9203151JSpc
1 AN ACT concerning insurance.
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 adding Section 352b as follows:
6 (215 ILCS 5/352b new)
7 Sec. 352b. Premium increase limits. An insurer may not
8 increase the premium charges for a constant level of coverage
9 under a group or individual policy of accident and health
10 insurance amended, delivered, issued, or renewed in this
11 State after the effective date of this amendatory Act of the
12 92nd General Assembly by an amount that exceeds the
13 percentage increase in the Consumer Price Index for Medical
14 Care, published by the Bureau of Labor Statistics of the
15 United States Department of Labor, during the period
16 beginning on the effective date of the premium in effect at
17 the time the increase is proposed and ending on the effective
18 date of the proposed premium increase. This limitation
19 applies separately to all types of coverage provided under
20 the policy. If an insurer increases or decreases a level of
21 coverage, this Section applies proportionately to the
22 coverage under the policy.