Sec. 8. (a) An individual whose gross annual income, including the gross annual income of the individual’s spouse, if married, is less than one hundred fifty percent (150%) of the federal income poverty level for the size of the individual’s or couple’s family may not be required to pay a premium to participate in the buy-in program.

     (b) An individual whose gross annual income, including the gross annual income of the individual’s spouse, if married, is at least one hundred fifty percent (150%) but not more than three hundred fifty percent (350%) of the federal income poverty level for the size of the individual’s or couple’s family, must pay a monthly premium in an amount equal to:

(1) the lesser of:

(A) the amount prescribed by the sliding scale developed by the office under section 7 of this chapter; or

(B) seven and one-half percent (7 1/2%) of the individual’s or couple’s gross annual income divided by twelve (12); minus

(2) the monthly amount of any premium paid by the individual, the individual’s spouse, or the individual’s parent for health insurance that covers the individual.

As added by P.L.287-2001, SEC.9.