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Synopsis As Introduced Amends the Illinois Insurance Code. Provides that insurers that issue individual and group accident and health policies that provides coverage for prescription drugs shall ensure that any required copayment or coinsurance applicable to drugs and rated as platinum, gold, or silver under federal regulations does not exceed $100 per month for up to a 30-day supply of any single drug, and $200 for plans rated as bronze level under federal regulations, and a beneficiary's annual out-of-pocket expenditures for prescription drugs are limited to no more than fifty percent of the dollar amounts in effect under specified provisions of the federal Patient Protection and Affordable Care Act. Provides that policies that provide coverage for prescription drugs and use a tiered formulary shall implement an exceptions process that allows enrollees to request an exception to the tiered cost-sharing structure. Effective January 1, 2016.
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