Illinois Sets Transparency Standards for Public Access to Health Insurance Drug Formularies

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IL| Company Bulletin 2025-16 issued by the Illinois Department of Insurance outlines the requirements for submitting and publicly posting standard drug formularies for health insurance products in Illinois. The bulletin provides guidance to all health insurance issuers regarding initial and ongoing filing obligations, specifies submission methods, and emphasizes transparency and accessibility requirements for public postings.

Key Points:

  • Health insurance issuers must submit all drug formularies for health products with enrolled covered individuals and, for certain products, those intended for future policy years; filings are due by October 1, 2025, through the SERFF system using specific categories, and certain requirements continue for subsequent years.
  • Separate filing deadlines and requirements apply for health products subject to specific Illinois statutes, including newly offered or re-entered products, and additional regulatory obligations outside these rules may still apply.
  • Issuers are required to post drug formulary information on public websites in a searchable, accessible manner without barriers such as account creation, and must provide direct webpage links in filings to ensure transparency for consumers.

Click here to see IL Company Bulletin 2025-16

  • Bulletin
  • Illinois
  • Department of Insurance

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