HB295 | Illinois 2021-2022 | PREPAID FUNERAL/BURIAL

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On May 21, 2021 in the Senate:

Rule 3-9(a) / Re-referred to Assignments

On May 13, 2021 in the Senate:

To Licensed Activities- Special Issues

On May 7, 2021 in the Senate:

Sponsor Removed Sen. Jacqueline Y. Collins

On May 4, 2021 in the Senate:

Assigned to Licensed Activities

On April 23, 2021 in the Senate:

Referred to Assignments
First Reading
Chief Senate Sponsor Sen. Sara Feigenholtz
Placed on Calendar Order of First Reading
Arrive in Senate

On April 22, 2021 in the House:

House Floor Amendment No. 3 Tabled Pursuant to Rule 40
Third Reading - Short Debate - Passed 114-000-002
Placed on Calendar Order of 3rd Reading - Short Debate
House Floor Amendment No. 2 Adopted

On April 21, 2021 in the House:

Second Reading - Short Debate
House Floor Amendment No. 3 Rules Refers to Insurance Committee
Held on Calendar Order of Second Reading - Short Debate
House Floor Amendment No. 2 Recommends Be Adopted Insurance Committee; 015-000-000

On April 20, 2021 in the House:

House Floor Amendment No. 3 Referred to Rules Committee
House Floor Amendment No. 3 Filed with Clerk by Rep. Natalie A. Manley
House Floor Amendment No. 2 Rules Refers to Insurance Committee

On April 15, 2021 in the House:

House Floor Amendment No. 2 Referred to Rules Committee
House Floor Amendment No. 2 Filed with Clerk by Rep. Natalie A. Manley

On March 18, 2021 in the House:

Placed on Calendar 2nd Reading - Short Debate

On March 15, 2021 in the House:

Do Pass as Amended / Short Debate Insurance Committee; 014-005-000
House Committee Amendment No. 1 Adopted in Insurance Committee; by Voice Vote

On March 11, 2021 in the House:

House Committee Amendment No. 1 Rules Refers to Insurance Committee

On March 10, 2021 in the House:

House Committee Amendment No. 1 Referred to Rules Committee
House Committee Amendment No. 1 Filed with Clerk by Rep. Natalie A. Manley

On February 23, 2021 in the House:

Assigned to Insurance Committee

On January 29, 2021 in the House:

Referred to Rules Committee
First Reading

On January 26, 2021 in the House:

Filed with the Clerk by Rep. Natalie A. Manley

House Amendment 002

Replaces everything after the enacting clause. Amends the Illinois Insurance Code. Provides that an insured or any other person who may be the owner of rights under a policy of life insurance may make an irrevocable assignment of all or a part of his or her rights under the policy to a funeral home in accordance with a specified provision of the Illinois Funeral or Burial Funds Act. Provides that a policy owner who executes a designation beneficiary form irrevocably waives and cannot exercise certain rights, including the right to collect from the insurance company the net proceeds of the policy when it becomes a claim by death and the right to collect or receive income, distributions, or shares of surplus, dividend deposits, refunds of premium, or additions to the policy. Amends the Illinois Funeral or Burial Funds Act. In a provision concerning pre-need contracts funded through the purchase of a life insurance policy or tax-deferred annuity contract, provides that nothing shall prohibit the purchaser from irrevocably assigning ownership of the policy or annuity to a person or trust or from irrevocably assigning the benefits of the policy or annuity to a funeral home for the purpose of obtaining favorable consideration for Medicaid, Supplemental Security Income, or another public assistance program. Provides that the form prepared by the Department of Healthcare and Family Services or by the insurance company shall provide for an irrevocable designation of beneficiary of one or more life insurance policies. Requires the insured or any other person who may be the owner of rights under the policy of whole life insurance to sign a guaranteed pre-need contract with the provider that describes the cost of the funeral goods and services to be provided upon the person's death, up to $6,774, in addition to the purchase of burial spaces as defined under the Act. Requires the licensee to annually report certain information to the Comptroller. Requires the proceeds of the life insurance policy to be paid to the provider and disbursed in a certain order upon the death of the insured. Amends the Medical Assistance Article of the Illinois Public Aid Code. In a provision requiring the Department of Healthcare and Family Services to exempt certain prepaid funeral or burial contracts from consideration when making an eligibility determination for medical assistance, provides that at any time after submitting an application for medical assistance and before the Department makes a final determination of eligibility, an applicant may use available resources to purchase one of the exempted prepaid funeral or burial contracts. Exempts up to $6,774 (rather than $5,874) in funds under an irrevocable prepaid funeral or burial contract when determining an individual's resources and eligibility for medical assistance. Provides that existing life insurance policies are exempt if there has been an irrevocable declaration of proceeds at the death of the insured. Requires the insured person to sign an irrevocable designation of beneficiary form declaring that any amounts payable from the policies not used for funeral goods and services shall be received by the State up to an amount equal to the total medical assistance paid on behalf of the person with any remaining funds paid to a secondary beneficiary (if any) listed on the policy.