IL-Exchange Legislation

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May 29, 2011 the Illinois legislature passed exchange enabling legislation. June 17 the bill was sent to Governor Pat Quinn who later signed the legislation into law a month later. Illinois plans to have the Illinois Health Benefits Exchange operating by October 1, 2013. The legislation ( S.B. 1555) authorizes the state to accept and allocate federal funding, create a Legislative Study Committee, and will require state agencies to offer their employees Health Savings Accounts (HSA).

The Legislative Study Committee will consist of six state senators and six representatives who will have to make its recommendations for how to set up an exchange by the end of September 2011.