4c4da195_Comparison_Summary__National_Health_Care_Reform
[Issue] Premium value [Current Illinois Law] NONE Current Illinois law does not require health insurance companies to expend on health care a defined percentage of hard-earned premium dollars paid by families and employers. Illinois currently has an exclusively for-profit health insurance market. Beginning January 1, 2011, health insurance companies in Illinois will have to report information regarding premiums and expenditures for major medical health insurance plans. The information will be publicly available on the Department’s website. (215 ILCS 5/359c) [National Health Care Reform] 
2010 Health insurance companies will be required to report detailed information about the percentage of premium dollars spent on health care (known as a “medical loss ratio”). The data will be publicly available on the Department’s website. 2011 Health insurance companies selling individual/family policies and policies to small employers (50 or fewer employees) will be required to spend at least 80% of each premium dollar on health care. Health insurance companies selling policies to larger employers will be required to spend at least 85% of each premium dollar on health care. Health insurance companies that fail to meet these minimum requirements will have to provide rebates to policyholders.
Comparison Summary
National Health Care Reform