IL SB2885

Increases the employee threshold for Health Care Purchasing Group (HPG) membership from 500 to 2,500 covered employees per employer.

Requires HPGs formed by 2 or more employers to utilize a licensed insurance producer to negotiate and obtain group or master health insurance contracts on behalf of members.

Mandates HPGs disclose to employers the total cost of insurance and itemize all dues, fees, charges, dividends, experience refunds, and other payments from risk-bearers.

Requires HPG registration with the Director of Insurance before entering into health insurance contracts, with annual renewal at a $100 fee, including disclosure of officers, directors, and certification of no felony convictions related to breach of fiduciary duty.

Exempts HPGs formed by sponsors or risk-bearers that perform no independent marketing or negotiation from certain registration requirements, but mandates the insurance contract be enforceable by employer members and employees and available for inspection within the State.