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Rate Review

Illinois House Bill 1501 (HB 1501) requires health insurance companies to get prior approval from the Illinois Dept. of Insurance before raising premiums. This approval process, known as Rate Review, is an important tool for controlling skyrocketing premiums. With a serious Rate Review framework in place, insurance companies will be required to justify any premium increases before they are passed on to Illinois consumers.

Read the documents below for much more on Rate Review and HB 1501.

HB1501 – Illinois General Assembly website

House Bill 1501 Summary and Data

HB 1501 would, for the first time in Illinois, protect individuals and families against
unwarranted and exorbitant premium increases for health insurance.  The bill requires all insurers and HMOs to report to the Department of Insurance premium rates and information justifying the rates for all individual and group health plans.  HB 1501 requires the Department to disapprove premiums that are excessive, inadequate, or unfairly discriminatory.  HB 1501 establishes a hearing process for insurance companies and consumers who object to a decision by the Department to approve or disapprove any premium rate.

HB 1501 – Bill Summary + Surplus Data 03-10-11.pdf

Facts About HB 1501

Skyrocketing health insurance costs pose a serious threat to the personal and economic health of families and small businesses across Illinois.  Each year, Illinois families and small businesses face unjustified rate increases that severely impact their health and savings.  The Illinois Health Insurance Rate Fairness and Affordability Act will take critical steps to control runaway rate increases and ensure families and businesses get quality insurance at an affordable price.

Fact Sheet 1 – HB1501.pdf

Support HB 1501

Without state law, Illinois families are denied protection from unreasonable, unwarranted, or abusive rate hikes.

HB 1501 (Harris – Rate Review).pdf

Talking Points

 We encourage everyone to use the talking points developed by collaborative partners
within the HCJC communications committee and national partners, especially the Herndon Alliance. Use them in your verbal description of HB 1501 and in all your written communications.  Additional framing documents (letter to the editor builder, and question and answer document) will be sent out this week.

Talking Points-Rate Review.pdf

Consumers Union Presentation

Presentation outline: primer on premiums, ACA rate review provision, II grant application to HHS, elements of model act, key factors for consumers and advocates, resources.

Consumers Union Presentation – Rate Review.pdf

Use our Rate Review LTE builder to submit a letter to your local newspaper.