IL HB4443

Requires all managed care plans to pay health care claims and indemnities within 30 days of receipt of a complete claim submitted on CMS-1500 or UB-04 forms with specified minimum required information.

Mandates that managed care plans notify providers of any missing documentation within 30 days of claim receipt, specifying in detail what information is needed to satisfy payment requirements.

Requires managed care plans to reimburse any undisputed portions of claims within 30 days of receipt, with late payments subject to 9% annual interest.

Grants the Department of Insurance authority to issue cease and desist orders, fines, or other penalties against managed care plans, independent practice associations, and physician-hospital organizations that violate timely payment provisions.

Applies timely payment requirements to policies issued to the Department of Healthcare and Family Services covering persons enrolled in Medicaid or the Children's Health Insurance Program.