CHICAGO (AP) - Illinois wants insurance companies in the small group market to submit changes to their small business policies as quickly as possible following a bipartisan adjustment to the nation’s health care law.
President Barack Obama signed legislation last week that gives states flexibility about whether to change the definition of “small business” under the law.
In an Oct. 9 memo to insurers, the Illinois Department of Insurance says it will keep defining “small” as employers with 1 to 50 employees.
The definition had been scheduled to change in 2016 to include employers with up to 100 workers. The expanded definition could have raised insurance rates for small businesses and their employees.
The flexibility for states enacted last week was backed by the U.S. Chamber of Commerce and other business groups.
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