Ind. Code § 27-8-10-4
Policies; deductible and coinsurance requirements; limitations
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-8-10-4, Policies; deductible and coinsurance requirements; limitations, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663958
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Full text
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.