(a) The Illinois Comprehensive Health Insurance Board shall study a catastrophic pharmaceutical assistance coverage option. The Board may contract with a private entity for the completion of all or part of the study. Specifically, the study shall:
        (1) Assess the need for a catastrophic pharmaceutical
    
assistance coverage option, including information on the number of individuals in need of such a benefit.
        (2) Estimate the cost of providing a catastrophic
    
pharmaceutical assistance coverage option through the Illinois Comprehensive Health Insurance Plan or another public or private entity.
        (3) Recommend ways to create a catastrophic
    
pharmaceutical assistance coverage option.
    (b) The Board may accept donations, in trust, from any legal source, public or private, for deposit into a specially created trust account and for expenditure, without the necessity of being appropriated, solely for the purpose of conducting all or part of the study.

Terms Used In Illinois Compiled Statutes 320 ILCS 50/25

  • Contract: A legal written agreement that becomes binding when signed.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC

     (c) The Board may enter into intergovernmental agreements with other State agencies for the purpose of conducting all or part of the study.
     (d) The Board shall issue a report with recommendations to the Governor and the General Assembly by January 1, 2003.
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