Your State Government's Oversight of Health Insurance in Illinois
The State Government of Illinois is in charge of developing and overseeing insurance requirements and regulations for the state. In fulfilling this goal, the State Government generally chooses to balance consumer rights with a business environment that promotes strong economic growth. In the area of health care insurance, the State Government must serve three major constituents: consumers, insurance companies, and licensed brokers.
The State Government's main control factor for assuring a legitimate health insurance market is the licensing and review of insurance companies and insurance brokers. For insurance companies, the State Government prepares minimum requirements for health insurance products and performs routine financial statement reviews, to assure that taxation requirements are satisfied. For independent insurance brokers, the Government establishes professional and licensing qualifications, manages license testing and license issuance for brokers, sets and reviews continuing education needs, and performs collections on broker license fees. The State Government is also in charge of identifying and investigating insurance-related fraud, especially as it pertains to consumers or when harmful to the local business environment.
For consumers, the State Government publishes public information guidelines to help residents understand their best insurance options. The State Government also helps consumers file insurance appeals with their health insurance company when there is a dispute over the insurance policy coverage. Finally, the State Government is charged with managing the Federal Medicare program within the state where Federally funded health insurance is offered to children without health insurance and low income families, senior citizens, or the self-employed.