Synopsis As Introduced Amends the Illinois Insurance Code. Provides that no resident of the State, regardless of whether he has or is eligible for health insurance coverage under any policy or program provided by or through his employer, or a plan sponsored by the State or the federal government, shall be required to obtain or maintain a policy of individual insurance coverage except as required by a court or a State agency or department where an individual is named a party in a judicial or administrative proceeding. Provides that no provision of the Act shall render a resident of this State liable for any penalty, assessment, fee, or fine as a result of his failure to procure or obtain health insurance coverage. Provides that the Act shall not apply to individuals voluntarily applying for coverage under a State-administered program pursuant to the federal Social Security Act. Provides that the provisions concerning health insurance coverage not required shall not apply to students being required by an institution of higher education to obtain and maintain health insurance as a condition of enrollment. Provides that nothing in the provisions concerning health insurance coverage not required shall impair the rights of persons to privately contract for health insurance for family members or former family members. Effective immediately.