Synopsis As Introduced Amends the Illinois Insurance Code. Provides that when an individual purchases a policy of accident and health insurance that is a high deductible plan with a health savings account, the individual may waive coverage for insurance mandates as required by the Code.
House Floor Amendment No. 1 Replaces everything after the enacting clause with the introduced bill with the following changes. Provides that the decision to waive coverage shall be made by the individual covered by the policy, or in the case of a minor, the parent or guardian of the individual. Provides that the Division of Insurance may give assistance to individuals regarding the waiving of mandated coverage. Requires the Division to recognize the waiver as a waiver of coverage required under the Illinois Insurance Code. Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Makes a technical correction.