HB2440 mandates pharmacy benefit managers and health insurers to notify Illinois beneficiaries of prescription drug coverage or pricing changes.
HB2440 amends the Illinois Insurance Code to require pharmacy benefit managers and health insurers to inform beneficiaries of any changes in prescription drug coverage or pricing. The notice must include cost-sharing information, details of the proposed changes, and instructions on how to appeal or request an exception. Beneficiaries can present evidence to support their appeal or exception request. The Department of Insurance must approve the appeal and exception processes by July 30, 2026, and can request changes if they are insufficient or do not adequately rely on medical necessity.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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