HB3773 - Affordable Health Insurance Act Summary

• Authorizes the Director of Insurance to establish flexible guidelines for Health Savings Account-eligible high deductible plans to increase affordability and availability for Illinois residents.

• Exempts insurers offering wellness programs, disease management programs, and health risk appraisal programs in high deductible health policies from unfair trade practice violations under the Uniform Deceptive Trade Practices Act.

• Eliminates required relationships between preferred and non-preferred provider reimbursement rates for Health Savings Account-eligible high deductible plans, while maintaining minimum 60% coinsurance for non-preferred providers.

• Classifies Health Reimbursement Arrangement-only plans that are not sold with individual health insurance as non-insurance products and allows individual policies funded through HRA-only plans to be treated as individual rather than employer-sponsored coverage.

• Directs the Director of Insurance to conduct national studies of HSA-eligible plans, develop expedited approval processes for compliant plans, and adopt rules for the design and regulation of these products.