Indiana Code 27-1-49-2. “Defined cost sharing”
Current as of: 2024 | Check for updates
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Terms Used In Indiana Code 27-1-49-2
- covered individual: means an individual who is entitled to health insurance coverage. See Indiana Code 27-1-49-1
- health insurance coverage: includes :
Indiana Code 27-1-49-3
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
Sec. 2. As used in this chapter, “defined cost sharing” means a deductible payment or coinsurance amount imposed on a covered individual for a covered prescription drug under the covered individual’s health insurance coverage.
As added by P.L.166-2023, SEC.2.