Bill > SB1087

This bill concerns the regulation of the Illinois Comprehensive Health Insurance Plan (the Plan). The key provisions are: - The Plan shall discontinue as the alternative market for health insurance in Illinois and as the alternative mechanism for providing portable and accessible individual health insurance coverage, effective no later than January 1, 2022. - The Plan's Board is required to develop a plan of rehabilitation or liquidation and dissolution, to be approved by the Director of Insurance, who will then file a complaint for the rehabilitation or liquidation of the Plan under the Illinois Insurance Code. - Upon entry of a rehabilitation or liquidation order, the Director will be appointed as the statutory rehabilitator or liquidator to wind down the affairs of the Plan, including transitioning enrolled individuals to other health plans, resolving claims and grievances, and distributing any remaining funds. - The Director, as rehabilitator or liquidator, will have the authority to administer and oversee the wind-down and dissolution of the Plan in accordance with the Illinois Insurance Code.

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https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1087&GAID=16&DocTypeID=SB&SessionID=110&GA=102