IL HB4396

Increases the annual cap on Chicago Teachers' Pension Fund health insurance reimbursement payments from $65,000,000 to $100,000,000

Adds automatic annual adjustments to the cap based on the consumer price index increase for the 12 months ending each September, with adjustments not falling below zero

Defines the applicable consumer price index as the CPI-U Medical Care index for the Chicago-Naperville-Elgin metropolitan area, published by the Bureau of Labor Statistics

Requires the Public Pension Division of the Department of Insurance to calculate and publish the adjusted amount by November 1 each year

Maintains existing provisions limiting total reimbursements to 75% of recipients' health insurance costs and allowing carryover of unused authorized amounts