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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4140
Introduced 1/16/2004, by Daniel J. Burke SYNOPSIS AS INTRODUCED:
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215 ILCS 5/355.1 |
from Ch. 73, par. 967.1 |
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Amends the Illinois Insurance Code. Makes
technical
changes in a Section concerning loss of time benefits.
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A BILL FOR
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HB4140 |
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LRB093 16467 SAS 42107 b |
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| AN ACT in relation to insurance.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Insurance Code is amended by |
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| changing
Section 355.1 as follows:
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| (215 ILCS 5/355.1) (from Ch. 73, par. 967.1)
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| Sec. 355.1. Loss of time benefits; certain reductions |
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| prohibited. No
claim for benefits for loss of time from the |
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| insured person's
occupation, under a group or individual |
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| accident and health insurance
policy delivered in this State |
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| more than 120 days after October 1, 1973
the effective date
of |
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| this Section, shall be reduced by reason of any cost-of-living |
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| increase,
designated as such under the Federal Social Security |
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| Act, if the
such
cost-of-living increase occurs while the |
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| policy's benefits are payable for
that claim.
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| (Source: P.A. 78-603.)
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