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Form 668(Z) Illinois Cook: What You Should Know

B) Tax-free insurance. Insurance under a life and health policy, a retirement policy, disability policy, health reimbursement policy, annuity or endowment policy, or similar policy. (D) Insurance under a mutual or part-time worker's compensation plan or contract. (2) A professional services organization. (c) 'Employee' means an individual who: is an insured consumer, in the case of insurance provided under a business or life insurance policy or under an auto, home, or life insurance contract; is an exempt individual, in the case of a health plan subject to regulations promulgated by the Department of the Treasury, the Department of Community Affairs, or the Department of Financial Affairs, as the case may be; or is an employee of any person in the case of the following: (1) A hospital. (2) A provider of professional services that is exempt from tax under this Code because of tax-exempt status under Section 501 and/or 501(c) of the Internal Revenue Code; or the equivalent. (d) 'Insurance business activity' means a business that provides insurance for the primary purpose of obtaining benefits. For this purpose, 'insurance business activity' means insurance which: (1) Is provided with respect to a trade or business, any of the purposes of which is to obtain or retain business, and (2) Is subject to an insurance contract, or that is provided under an agreement or plan that may be a contract in existence only until, and is either not subject to termination under a written provision which specifies a termination date, or which automatically terminates after an insurance contract has been established or provided, other than in the event of the death or failure of an insured individual or after a cessation of the services in which the insured individual is engaged by an employer in which the insured individual has a right to participate, or which the insured individual has entered into because of the insured individual's death.

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