For Gov. JB Pritzker, the two bills represent a continuation of his push to put greater controls on the Illinois insurance industry. In 2023 and 2024, he successfully pushed legislation giving the Insurance Department authority to review and approve rates for small- and large-group health insurance plans.
Dumb. Most insurance regulations are counterproductive, shifting cost burdens from higher risks to lower risks and thus pushing out lower risk customers and increasing overall risk profiles.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Dumb. Most insurance regulations are counterproductive, shifting cost burdens from higher risks to lower risks and thus pushing out lower risk customers and increasing overall risk profiles.