215 ILCS 93/1
Short title
Short title. This Act may be cited as the Small Employer Health Insurance Rating Act. (Source: P.A. 91-510, eff. 1-1-00.)
Illinois Compiled Statutes 215 ILCS 93 — Small Employer Health Insurance Rating Act.
Illinois · statute · 215 ILCS 93 · 10 active provisions
215 ILCS 93/5
Purpose
Purpose. The legislature recognizes that all too often, small employers are forced to increase employee co-pays and deductibles or drop health insurance coverage altogether because of unexpected rate increases as a result of one major medical problem. It is the intent of this Act to improve the efficiency and fairness…
215 ILCS 93/10
Definitions
Definitions. For purposes of this Act: "Actuarial certification" means a written statement by a member of the American Academy of Actuaries or other individual acceptable to the Director that a small employer carrier is in compliance with the provisions of Section 25 of this Act, based upon an examination which include…
215 ILCS 93/15
Applicability and scope
Applicability and scope. (a) This Act shall apply to each health benefit plan for a small employer that is delivered, issued for delivery, renewed, or continued in this State after July 1, 2000. For purposes of this Section, the date a plan is continued shall be the first rating period which commences after July 1, 200…
215 ILCS 93/20
Establishment of Class of Business
Establishment of Class of Business. (a) A small employer carrier may establish a separate class of business only to reflect substantial differences in expected claims experience or administrative costs related to the following reasons: (1) the small employer carrier uses more than one type of system for the marketing a…
215 ILCS 93/25
Premium Rates
Premium Rates. (a) Premium rates for health benefit plans subject to this Act shall be subject to all of the following provisions: (1) The index rate for a rating period for any class of business shall not exceed the index rate for any other class of business by more than 20%. (2) For a class of business, the premium r…
215 ILCS 93/30
Rating and underwriting records
Rating and underwriting records. (a) A small employer carrier shall maintain at its principal place of business a complete and detailed description of its rating practices and renewal underwriting practices, including information and documentation that demonstrates that its rating methods and practices are based upon c…
215 ILCS 93/35
Suspension of Rate Requirements
Suspension of Rate Requirements. The Director may suspend all or any part of Section 25 as to the premium rates applicable to one or more small employers for one or more rating periods upon a filing by the small employer carrier and a finding by the Director that either the suspension is reasonable in light of the fina…
215 ILCS 93/40
Director's Regulatory Authority
Director's Regulatory Authority. The Director may adopt and promulgate rules and regulations to carry out the provisions of this Act. (Source: P.A. 91-510, eff. 1-1-00.)
215 ILCS 93/99
Effective date
Effective date. This Act takes effect January 1, 2000. (Source: P.A. 91-510, eff. 1-1-00.)