New Illinois law improves consumer protections in health insurance
Law forces health insurance providers to disclose profit information; streamlines application process for small group and individual applicants; provides review process for dropped coverage
A new law in Illinois will establish a review process for members of health insurance plans, make insurers’ profits more transparent and standardize certain applications.
The Individual Health Insurance Fairness Act was introduced to protect consumers and small businesses against unfair insurance industry practices. “This new law will … [allow] health insurance customers an opportunity to have an independent review when they are denied a claim by their insurance company,” said Illinois PIRG director Brian Imus.
Individual and small group applicants will benefit from a standardized insurance application, AARP Illinois noted. The advocacy group supported the health insurance law.
Consumers in the state will, for the first time, be granted access to insurance companies’ profit and premium data, helping Illinoisans “find out how much of [their] premium dollars actually go to healthcare,” in the words of State Representative Greg Harris, a Chicago Democrat.
Jay Rockefeller, the U.S. senator from West Virginia, said last year that insurers spent between 74 and 84 percent of premiums on healthcare.
Learn how easy and convenient shopping for health insurance can be. Get your free health insurance quotes today!
Posted: January 6, 2010
Related Health Insurance Articles
- Health insurance reform ensures coverage for mentally ill December 29, 2009
- Fifteen percent of Americans lack health insurance, CDC says December 17, 2009
- Program to offer anti-smoking drugs as part of health insurance is paying off December 17, 2009
- Cancer risk linked to health insurance or lack thereof December 11, 2009
- Massachusetts reports that almost all eligible residents have health insurance December 10, 2009
- New Pennsylvania law expands health insurance coverage for young adults December 8, 2009
- Missouri hopes to join the ranks of states requiring autism coverage in health insurance December 4, 2009
- Health insurance reform should increase insurance rolls, keep costs at current levels November 24, 2009
- Across the aisle, Americans say they want improvements in health insurance coverage November 24, 2009
- Lack of health insurance increases death risk, study finds November 17, 2009
