Mr. Bell has received seven Emmy Awards, two as a writer, one each for The Young and the Restless and Days of Our Lives, and five as a producer on The Young and the Restless, most recently in 1993. Other awards for excellence in writing and subject matter include multiple Media Access Awards, The Nancy Susan Reynolds Award from the Center for Population Options, and numerous other awards and citations from Mothers Against Drunk Driving, the Hollywood Entertainment Council, and the Men's Fashion Association of America, to name a few.

Bill has also been the subject of retrospectis at the Museum of Broadcasting and the Museum of Broadcast Communications, and the recipient of the Governor's Award from the National Academy of Television Arts & Sciences and the Silver Circle from the Chicago chapter of NATAS. He has received the Editor's Award from Soap Opera Digest and is one of the inaugural inductees into Soap Opera Weekly's Hall of Fame. He is the recipient of awards for Most Popular Drama Series from networks in Itally, Holland, and Switzerland.

As a drama series producer, Mrs. Phillip Bell has been honored by awards and nominations from the National Academy of Television Arts & Sciences, the NAACP Image Awards, and the Soap Opera Digest Awards. She recently recieved the 1993 Broadcaster of the Year Award from the American Women in Radio & Television and the 1993 Directors Choice Award from the National Women's Economic Alliance Foundation.

Lee was also the recipient of sixteen local Emmys, a national Emmy for Community Service, and the Alfred I. DuPont/Columbia University Award for the special The Rape of Paulette, the first program in Chicago to explore the issue. In 1977, she was the first woman to receive the coveted Governor's Award from the Chicago chapter of the National Academy of Television Arts & Sciences. In 1980 she was named Person of the Year by the Broadcast Advertising Club of Chicago and the Outstanding Woman in Communications by the Chicago YMCA. She recently received the Salvation Army's William Booth Award for her distinguished career in community and social service.