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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6304
Introduced 02/06/04, by Tom Cross SYNOPSIS AS INTRODUCED:
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215 ILCS 130/2005 |
from Ch. 73, par. 1502-5 |
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Amends the Limited Health Service Organization Act. Makes a technical change
in a Section concerning claims liability.
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A BILL FOR
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HB6304 |
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LRB093 15110 SAS 40705 b |
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| AN ACT concerning 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 Limited Health Service Organization Act is |
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| amended by
changing Section 2005 as follows:
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| (215 ILCS 130/2005) (from Ch. 73, par. 1502-5)
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| Sec. 2005. Claims Liabilities.
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| (a) A
Every limited health service organization shall, at |
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| all times,
maintain
liabilities in an amount estimated in the |
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| aggregate to provide for the
payment of all claims incurred and |
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| any due and unpaid provider capitation,
whether reported or |
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| unreported, which are unpaid and for which such
organization is |
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| or may be liable, and to provide for the expense of
adjustment |
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| or settlement of such claims. Such liabilities shall be
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| computed in accordance with regulations promulgated by the |
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| Director upon
reasonable consideration of the ascertained |
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| experience and character of
such business for the purpose of |
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| adequately protecting enrollees and
securing the solvency of |
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| such organizations.
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| (b) Whenever the claim and claim expense experience of any |
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| such organization
shows the liabilities calculated in |
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| accordance with such regulations to be
inadequate, the Director |
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| may require such organization to maintain additional |
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| liabilities.
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| (Source: P.A. 86-600.)
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