SB3926 Summary

• Amends the Illinois Insurance Code and Short-Term, Limited-Duration Health Insurance Coverage Act to strengthen consumer protections and disclosure requirements for short-term health insurance plans.

• Requires insurance producers and issuers to provide prospective purchasers with signed confirmations that they reviewed essential health benefits, qualifying events for special enrollment, and that short-term plans do not constitute minimum essential coverage under the Affordable Care Act.

• Establishes mandatory prominent warning notices in at least 14-point bold type in all marketing materials and policies stating that short-term coverage does not meet federal minimum essential coverage requirements and does not include all essential health benefits.

• Limits short-term, limited-duration health insurance policies to an expiration date of less than 181 days and prohibits renewal within 365 days of coverage termination; restricts cancellations to nonpayment of premiums or fraud only.

• Expands enforcement authority to address deceptive marketing practices, including prohibitions on representing short-term coverage as similar to or better than comprehensive health plans, and prevents use of logos or website domains deceptively similar to Get Covered Illinois or healthcare.gov.