INS CD - MEDICAL LOSS RATIO

Amends the Illinois Insurance Code, the Health Maintenance Organization Act, the Limited Health Service Organization Act, and the Voluntary Health Services Plan Act to require policies of health insurance and health plans issued by insurers that have been licensed for 5 years or more to expend no less than 85% of the aggregate dues, fees, and other periodic payments received by the policy or plan for providing health care services to its subscribers or enrollees. Provides that policies or plans issued by insurers that have been licensed for less than 5 years may spend no less than 75% for providing health care services to its subscribers or enrollees. Extends the statutory authority of the Director to disapprove group health insurance policies that fail to comply with the provisions concerning health insurance administrative costs. Effective January 1, 2009.