SPRINGFIELD, Ill. – To protect Illinois residents from increasing health insurance rates, state Rep. Barbara Hernandez, D-Aurora, recently supported legislation to require rate increases to be reviewed by the Department of Insurance before going into effect.
“Nobody should have to forego health insurance coverage and the care they need because of increasing health care costs,” Hernandez said. “Health care should be a fundamental right for all Illinois residents, not just the wealthy.”
The Hernandez-backed House Bill 471 prevents excessive increases to health insurance costs by requiring current plans and proposed rate changes to be reviewed and approved by the Department of Insurance. The Department would have the authority to prohibit rate increases that are deemed excessive or unreasonable. This legislation also requires the Department to issue an annual report to members of the General Assembly on health insurances rates in the Illinois market.
“One of my top priorities is ensuring affordable health care for residents of my district, and this legislation takes a needed step toward protecting them from unreasonably high health insurance costs,” Hernandez said. “By requiring rate increases to be reviewed and approved, we can help make sure that health care coverage is accessible to everyone.”