IL HB0029

Creates the Premium and Loss Data Reporting Act requiring all insurers subject to Illinois Insurance Code Class 1(b) and Class 2(a), plus HMOs, to report accurate and complete premium and loss data to the Director of the Division of Insurance.

Requires quarterly reports due on the final day of each quarter covering the prior quarter's health benefit plans in force in Illinois, and annual reports due by April 1 for the preceding calendar year.

Insurers with comprehensive major medical business covering more than 500 unduplicated persons must file supplemental annual reports with premium and loss data by April 1.

Specifies 19 coverage types for reporting including major medical, hospital surgical, dental, disability income, Medicare supplement, vision, travel, and excess/stop loss insurance.

Requires reporting of nine specific data points per coverage type including direct premiums earned, direct losses incurred, loss ratios, number of employers and primary insureds, covered dependents, member months, and wellness program premium discounts; data must be reported in aggregate format without identifying individual providers.