IL Rx program administrator bonds.
From $100.
An Illinois third party prescription program administrator must either keep reimbursement funds in a separate fiduciary account or post a bond of indemnity with the Department of Insurance — generally at least 10% of estimated annual reimbursement. Pricing is 1% of the bond amount, with a $100 minimum; your exact price appears at the application, and a soft credit check may apply — never a hard inquiry, no impact on your score.
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Three steps to registered.
Your registration is waiting on this bond. Here is the entire process — no broker phone tag:
Apply once, online
Business details, the bond amount your registration requires, and the effective date — plus a one-time consent to a soft credit pull.
Reviewed & approved
Most clear quickly; if underwriting needs anything, you hear from an underwriter within 48 hours. The credit check is a soft pull that never affects your score.
File with the Department of Insurance
Pay online and receive the executed indemnity bond, ready to file with the Director of Insurance for your registration. Wet-ink originals mailed whenever the state insists.
What it is and who needs it.
What the prescription-administrator bond covers
Illinois regulates third party prescription programs — programs that reimburse pharmacies for prescriptions on behalf of a plan — under Article XXXI½ of the Insurance Code (215 ILCS 5), the Third Party Prescription Program Act. Programs and their administrators must register with the Director of Insurance.
An administrator must either maintain a separate fiduciary account for receipt and disbursement of reimbursement funds, or post a bond of indemnity in an amount not less than 10% of the total estimated annual reimbursement. The bond is held by the Director for the benefit and indemnification of the providers — the pharmacies — served by the program.
Because the bond figure depends on your reimbursement volume, the amount is whatever your registration requires. Enter that figure and your price — 1% of the bond amount, with a $100 minimum — appears at the application. A soft credit check may apply; it never affects your score.
You need this bond if you are
One application, issued instantly.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is typically issued within 1–2 business days.
Start the application →Common questions.
Other Illinois bonds.
Rx-administrator bond, issued this week.
Pricing from $100, soft pull only. Enter your required amount and file with the Department of Insurance in 1–2 business days.