Replaces everything after the enacting clause. Provides that the amendatory Act may be referred to as the Improving Health Care for Pregnant and Postpartum Individuals Act. Amends the Illinois Insurance Code. Provides that insurers shall allow hospitals separate reimbursement for a long-acting reversible contraceptive device provided immediately postpartum in the inpatient hospital setting before hospital discharge. Provides that an individual or group policy of accident and health insurance or managed care plan amended, delivered, issued, or renewed on or after the amendatory Act's effective date shall provide coverage for pregnancy and newborn care in accordance with specified federal provisions regarding essential health benefits. Contains requirements for pregnancy and postpartum coverage benefits. Makes conforming changes in the State Employees Group Insurance Act of 1971, the Counties Code, the Illinois Municipal Code, the School Code, the Health Maintenance Organization Act, and the Voluntary Health Services Plans Act. Amends the Department of Human Services Act. Requires the Department of Human Services to expand and update its maternal child health programs to serve any pregnant or postpartum woman identified as high-risk by the individual's primary care provider or hospital according to specified standards. Contains other provisions. Amends the Department of Public Health Powers and Duties Law of the Civil Administrative Code of Illinois. In provisions regarding obstetric hemorrhage and hypertension training, requires the Department of Public Health to ensure that all birthing facilities have a written policy and conduct continuing education yearly (rather than only conduct continuing education yearly) for providers and staff of obstetric medicine and of the emergency department and other staff that may care for pregnant or postpartum women. Requires the Department, in collaboration with the Department of Human Services and specified entities, and, on or before June 1, 2024, to revise or add to the rules of the Maternal and Child Health Services Code that govern the High Risk Infant Follow-up, using current scientific and national and State outcomes data, to expand existing services to improve both maternal and infant outcomes overall and to reduce racial disparities in outcomes and services provided. Contains other provisions. Amends the Illinois Public Aid Code. Provides that, on or after July 1, 2022, individuals who are otherwise eligible for medical assistance under specified provisions shall receive coverage for perinatal depression screenings for the 12-month period beginning on the last day of their pregnancy, subject to specified conditions. Provides that within 90 days of the amendatory Act's effective date, the Department of Healthcare and Family Services shall seek approval of a State Plan amendment to expand coverage for family planning services to individuals whose income is at or below 208% of the federal poverty level. Provides that the Department shall allow Medicaid providers to receive Medicaid reimbursement for a postpartum visit that is separate from Medicaid reimbursement for prenatal care and labor and delivery services. Makes other changes. Effective immediately.