Bill > HB3607

This bill proposes to limit cost-sharing for health insurance policies in Illinois by establishing new restrictions on copayments, deductibles, and out-of-pocket expenses. Specifically, for group or individual health insurance policies issued, amended, delivered, or renewed on or after January 1, 2027, the bill prohibits insurers from charging copayments as a method of cost-sharing and prevents them from imposing deductibles higher than $1,000. Additionally, the bill caps yearly out-of-pocket expenses for insured individuals at $1,500. The legislation amends multiple existing laws, including the State Employees Group Insurance Act, Counties Code, Illinois Municipal Code, School Code, Health Maintenance Organization Act, Limited Health Service Organization Act, Voluntary Health Services Plans Act, and Illinois Public Aid Code, to ensure these cost-sharing limitations are applied consistently across different types of health insurance plans and providers. By implementing these restrictions, the bill aims to make health insurance more affordable and accessible for Illinois residents by reducing the financial burden of medical expenses.

Business and Industry

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3607&GAID=18&DocTypeID=HB&SessionID=114&GA=104