93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4140

 

Introduced 1/16/2004, by Daniel J. Burke

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/355.1   from Ch. 73, par. 967.1

    Amends the Illinois Insurance Code. Makes technical changes in a Section concerning loss of time benefits.


LRB093 16467 SAS 42107 b

 

 

A BILL FOR

 

HB4140 LRB093 16467 SAS 42107 b

1     AN ACT in relation to insurance.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Insurance Code is amended by
5 changing Section 355.1 as follows:
 
6     (215 ILCS 5/355.1)  (from Ch. 73, par. 967.1)
7     Sec. 355.1. Loss of time benefits; certain reductions
8 prohibited. No claim for benefits for loss of time from the
9 insured person's occupation, under a group or individual
10 accident and health insurance policy delivered in this State
11 more than 120 days after October 1, 1973 the effective date of
12 this Section, shall be reduced by reason of any cost-of-living
13 increase, designated as such under the Federal Social Security
14 Act, if the such cost-of-living increase occurs while the
15 policy's benefits are payable for that claim.
16 (Source: P.A. 78-603.)