IL SB1557

Prohibits individual and group accident and health insurance policies and managed care organizations from changing an insured's eligibility or coverage during a contract period.

Requires insureds to maintain continuity of their providers, medications, covered benefits, and formulary throughout the contract period.

Amends the Illinois Public Aid Code to add Section 356z.61 to the list of required health benefits that must be provided by the medical assistance program.

Makes conforming changes to ensure the medical assistance program complies with the new contract period protections for coverage continuity.