Sec. 12. (a) Medicare supplement policies must return to policyholders benefits that are reasonable in relation to the premium charged.
(b) The commissioner shall adopt rules under IC 4-22-2 to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, or incurred health care expenses if coverage is provided by a health maintenance organization on a service rather than reimbursement basis, and earned premiums in accordance with accepted actuarial principles and practices.
As added by P.L.255-1989, SEC.9. Amended by P.L.126-1992, SEC.10.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 13. Medicare Supplement Insurance Solicitations
27-8-13-0.1. Application of Certain Amendments to Chapter
27-8-13-2. "Medicare Supplement Insurance Solicitation" Defined
27-8-13-3. "Medicare Supplement Policy"
27-8-13-4. Receipt for Materials Received by Soliciting Insurance Producer; "Materials" Defined
27-8-13-5. "Applicant" Defined
27-8-13-6. "Certificate" Defined
27-8-13-6.2. "Certificate Form" Defined
27-8-13-7.6. "Policy Form" Defined
27-8-13-8. Application of Chapter
27-8-13-9. Medicare Supplement Policies; Standards; Preexisting Medical Conditions
27-8-13-9.5. Medicare Supplement Policy or Certificate Requirements; Enrollment; Compensation
27-8-13-10.1. Model Medicare Supplement Policy Standards
27-8-13-12. Reasonable Benefits; Loss Ratio Standards
27-8-13-14. Outline of Coverage; Contents
27-8-13-15. Informational Brochures
27-8-13-17. Return Privilege Notice; Refund
27-8-13-18. Review and Approval of Proposed Advertisements