Short-Term Limited Duration Insurance Reminder
Please be advised that the Illinois Department of Insurance (“Department”) recently issued Company Bulletin 2024-15 to provide guidance to issuers and producers on the Department’s expectations for compliance with the new law and regulations impacting both Short-Term Limited Duration Insurance (“STLDI”) and Non-coordinated Fixed Indemnity Excepted Benefits coverage under federal rule and Illinois law.
Issuers who currently offer STLDI plans and producers who sell such plans are directed to inform both currently enrolled individuals as well as new consumers in writing that such plans will be banned in Illinois beginning January 1, 2025. We encourage producers to inform consumers currently enrolled in STLDI coverage to utilize the annual Affordable Care Act Marketplace Open Enrollment Period for Plan Year 2025, beginning November 1, 2024 and lasting through January 15, 2025, to enroll in Qualified Health Plan (QHP) coverage to ensure there are no gaps in health coverage.
1501 East Woodfield Road, Ste 110e
Schaumburg, IL 60173
Toll Free: 1-800-605-7566
General Phone: (847) 605-1200
Phone: (847) 592-0941
Fax: (847) 605-1494
Phone: (847) 598-6006
Fax: (847) 605-1331
Phone: (847) 598-6005
Fax: (847) 619-9592
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