IL State Updates - 2015 Jan 20 No.01

On Oct. 16, 2015, the Illinois Department of Insurance released Revised CB 2015-10. This bulletin acknowledged the passage of the PACE Act, which was signed into federal law Oct. 8, 2015 and repealed PPACA’s mandated small-group expansion. As a result of the PACE act, the federal government will continue to define small groups as those with 1-50 employees. Illinois reported that the state will continue to define small group as those employers with 2-50 employees.

Although the PACE Act came too late to allow for changes in the rates that will be imposed by many carriers on Jan. 1, 2016, Illinois will allow carriers to submit revisions to their small group rates on a quarterly basis beginning in April 2016.

CB 2015-10 »