Illinois Compiled Statutes 215 ILCS 93/20 – Establishment of Class of Business
Current as of: 2024 | Check for updates
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(a) A small employer carrier may establish a separate class of business only to reflect substantial differences in expected claims experience or administrative costs related to the following reasons:
(1) the small employer carrier uses more than one
(1) the small employer carrier uses more than one
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type of system for the marketing and sale of health benefit plans to small employers;
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(2) the small employer carrier has acquired a class
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of business from another small employer carrier; or
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(3) the small employer carrier provides coverage to
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one or more association groups.
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(b) A small employer carrier may establish up to 4 separate classes of business under subsection (a).
(c) The Director may approve the establishment of additional classes of business upon application to the Director and a finding by the Director that such action would enhance the efficiency and fairness of the small employer marketplace.
(c) The Director may approve the establishment of additional classes of business upon application to the Director and a finding by the Director that such action would enhance the efficiency and fairness of the small employer marketplace.