HB 5929

Abstract

Amends the Life and Health Insurance Guaranty Association Article of the Illinois Insurance Code. Prohibits health care providers from seeking payment from insureds until a final determination of the Association's liability has been made. Excludes from coverage certain variable rate instruments. Excludes from coverage certain self-funded employer and employee benefit plans. Removes authority of the Association to loan money to an impaired insurer. Sets forth conditions under which coverage is provided to residents and nonresidents. Makes changes with respect to the manner assessments are made upon insurers. Limits the liability of the Association and the Director of Insurance with respect to the operation of the Association. Effective January 1, 2005.