Sec. 4. (a) Subject to the limitation provided in subsection (c), an association policy offered in accordance with this chapter must impose a five hundred dollar ($500) deductible on a per person per policy year basis. The deductible must be applied to the first five hundred dollars ($500) of eligible expenses incurred by the covered person.
(b) Subject to the limitation provided in subsection (c), a mandatory coinsurance requirement shall be imposed at the rate of twenty percent (20%) of eligible expenses in excess of the mandatory deductible.
(c) The maximum aggregate out-of-pocket payments for eligible expenses by the insured in the form of deductibles and coinsurance may not exceed one thousand five hundred dollars ($1,500) per individual or two thousand five hundred dollars ($2,500) per family, per policy year.
As added by Acts 1981, P.L.249, SEC.1. Amended by P.L.253-1989, SEC.4.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 10. Comprehensive Health Insurance
27-8-10-0.1. Application of Certain Amendments to Chapter
27-8-10-0.5. Dissolution of the Association
27-8-10-2.3. Reporting Requirements
27-8-10-2.5. Members; General Requirements
27-8-10-2.6. Member and Health Care Provider Grievances
27-8-10-3. Association Policy Coverage; Reimbursement Methods; Eligible Expenses; Managed Care
27-8-10-3.5. Chronic Disease and Pharmaceutical Management Programs
27-8-10-3.6. Mail Order or Internet Based Pharmacy
27-8-10-4. Policies; Deductible and Coinsurance Requirements; Limitations
27-8-10-5.1. Policies; Eligible Persons; Dependent Coverage; Preexisting Conditions
27-8-10-6. Policies; Renewal Provisions; Election to Continue Coverage Upon Death of Policyholder
27-8-10-8. Civil or Criminal Liability of Association or Members
27-8-10-9. Medicare Supplement Policies
27-8-10-10. Eligibility Guidelines