IL HB3749

Increases the interest rate insurers must pay for late claim payments from 9% to 10% per annum, applicable when claims are not paid within 30 days of receiving proof of loss.

Prohibits insurers, health maintenance organizations, and related entities from reducing claim amounts or recouping/offsetting payments unless the reduction results from a Director of Insurance-authorized arbitration process.

Prevents policies from denying, discontinuing, or altering coverage of treatment methods that follow prescribed standards of care if the condition was covered at any time during the benefit period or if a related claim was paid during that period.

Restricts companies from altering definitions of "eligible expense" or "maximum allowable expense" after a benefit period begins, and limits increases to usual and customary fee rates and fee schedule changes to once per calendar year.

Grants the Director of Insurance authority to issue cease and desist orders, impose fines, or penalize companies violating these coverage and rate provisions.