Illinois Governor J.B. Pritzker is defending his choice to veto a House bill that would allow victims to recover prejudgment interest on their settlements. House Bill 3360 would have provided plaintiffs the ability to recover the interest on all damages accrued as the case worked its way through the court system.
The governor says one of the reasons for vetoing the bill was the undue hardship it would create for hospitals. The pre-judgment rate of interest on payout is 9% in Illinois.
Gov. Pritzker argues that since most hospitals in Illinois are self-insured, HB 3360 would be burdensome for hospitals and possibly drive health care costs higher for all Illinois residents.
“While I support joining the majority of states that allow prejudgment interest in personal injury cases in order to encourage their prompt resolution, the provisions of HB 3360 would be burdensome for hospitals and medical professionals beyond the national norm, potentially driving up healthcare costs for patients and deterring physicians from practicing in Illinois,” the governor wrote in a letter to lawmakers regarding his decision to veto the bill.
The governor added that he appreciates the House legislators work in passing the bill and encouraged them to re-work the bill to minimize the financial burden on hospitals.