We are excited to report that, recently, legislation allowing small businesses and entrepreneurs to join together and form health insurance cooperatives was passed out of the Illinois House and Senate Insurance committees. This was the first time this legislation moved through the Senate Insurance Committee and was a big win for small businesses and our members.
Then last week, the Illinois Department of Insurance re-assessed their position on self-insured cooperatives and determined that they are indeed, legal under Illinois law. This paves the way for our coalition, of over 11,000 businesses, to begin forming a health insurance cooperative to stabilize health insurance premiums and bring transparency to the process.
A non-profit organization has been formed for the cooperative. Bylaws are being drafted and the structure of the cooperative is being developed. This is very good news for small business owners, and their employees, who have seen their health insurance premiums soar. There should be much more to report over the next few weeks. Stay tuned!
Here is a list of our SBAC coalition partners:
â€¢ The GOA
â€¢ Aurora Regional Chamber of Commerce
â€¢ The Chicago Southland Chamber of Commerce
â€¢ The Skokie Chamber
â€¢ The Highland Park Chamber
â€¢ The Quad Cities Chamber
â€¢ The Lincoln Park Chamber
â€¢ The Industrial Council of Nearwest Chicago
â€¢ Illinois PIRG
â€¢ Jewish B2B Networking
â€¢ The Big Ooga
â€¢ The Batavia Chamber of Commerce
â€¢ The Lake County Chamber of Commerce
â€¢ eWomenNetwork Chicagoland
â€¢ The Western Dupage Chamber
â€¢ The Lakeview Chamber of Commerce
â€¢ The Uptown Chamber of Commerce
â€¢ The Riverbend Growth Association
â€¢ Local First Chicago
â€¢ Effingham County Chamber of Commerce
â€¢ Affiliated Healthcare Consultants, Ltd.
Thank you all again for supporting small business and the local economy.