Illinois HB4008 mandates that prescription drug cost sharing be calculated based on the full rebate amount for policies issued after January 1, 2026.

Illinois HB4008 amends the Illinois Insurance Code to require that cost sharing for prescription drugs in group or individual accident and health insurance policies be calculated based on a price reduced by all rebates received. Insurers may apply excess rebate amounts to reduce premiums. The Department of Insurance is authorized to adopt rules to implement these provisions.

Illinois HB4008 mandates that prescription drug cost sharing be calculated based on the full rebate amount for policies issued after January 1, 2026.

Illinois HB4008 amends the Illinois Insurance Code to require that cost sharing for prescription drugs in group or individual accident and health insurance policies be calculated based on a price reduced by all rebates received. Insurers may apply excess rebate amounts to reduce premiums. The Department of Insurance is authorized to adopt rules to implement these provisions.