IL HB2440

Requires pharmacy benefit managers and health insurers to notify affected beneficiaries at least 90 days before finalizing any changes to prescription drug coverage or pricing, with notice sent by first class mail or email

Notifications must include cost-sharing information, details of contemplated coverage changes, and instructions for appealing or requesting exceptions

Pharmacy benefit managers and health insurers must submit appeals and exceptions processes to the Department of Insurance for approval by July 30, 2026

Appeals and exception processes must allow beneficiaries to present evidence regarding medical necessity and why proposed coverage changes would be less effective for their specific needs

The Department of Insurance has 90 days to review submitted plans and require changes; disputed changes may be contested through a hearing process with a final decision issued within 5 days of the hearing