SPRINGFIELD, Ill. – State Rep. Yehiel “Mark” Kalish, D-Chicago, sponsored legislation that would prohibit health insurance companies from unwarranted health insurance rate hikes that take advantage of their customers.
“Illinoisans deserve to receive the care and coverage they need to keep their families in good health,” said Kalish. “Requiring rate increases to be reviewed and approved by the Illinois Department of Insurance, helps ensure access to quality, affordable care for all.”
The Kalish-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.
“People deserve affordable and reliable medical care,” Kalish said. “Without the protections included in this proposal, insurance companies have free rein to increase rates dramatically and leave families unable to afford care.”
House Bill 471 passed the House and is awaiting further action in the Senate.