Indiana Code 27-1-50-9. Offer of plans to plan sponsors
Current as of: 2024 | Check for updates
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Sec. 9. (a) At the time of contracting, an insurer shall only offer to plan sponsors the following plans:
(2) A plan that calculates defined cost sharing for covered individuals of the plan sponsor at the point of sale based on a price that is reduced by an amount equal to at least eighty-five percent (85%) of all of the rebates received or estimated to be received by the insurer concerning the dispensing or administration of the prescription drug.
(1) A plan that applies one hundred percent (100%) of the rebates to reduce premiums for all covered individuals equally.
Terms Used In Indiana Code 27-1-50-9
- 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. See Indiana Code 27-1-50-2
- insurer: means an insurer that provides health insurance coverage to a covered individual. See Indiana Code 27-1-50-4
- plan sponsor: means an employer or organization that offers health insurance coverage to its employees or members through an insurer. See Indiana Code 27-1-50-5
(b) A plan sponsor may choose one (1) of the plans offered under subsection (a).
As added by P.L.166-2023, SEC.3. Amended by P.L.158-2024, SEC.15.