IL SB1762

Requires insurers to notify beneficiaries that nonparticipating providers may bill members for amounts up to the billed charge after the plan pays its portion, except for specified services including those provided to Medicare beneficiaries.

Prohibits health care providers from charging Medicare beneficiaries, insureds, or enrollees any amount exceeding the Medicare-approved amount for Medicare-covered items or services.

Establishes protections for emergency services and certain non-emergency services at participating facilities when provided by nonparticipating providers, requiring insurers to ensure out-of-pocket costs do not exceed what would be charged by participating providers.

Creates binding arbitration process for payment disputes between health insurance issuers and nonparticipating providers, with arbitration requests filed with the Department of Insurance and decisions required within 45 days.

Grants the Department of Insurance authority to enforce requirements regarding billing by nonparticipating providers and balance billing protections for beneficiaries receiving emergency or facility-based services.