Introduced Version




HOUSE BILL No. 1256

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 27-8-5-2.1.

Synopsis: Individual insurance risk pools. Requires an insurer that issues an individual policy of accident and sickness insurance to continue to accept new risks into at least one policy issued by the insurer for at least five years after the policy is first issued.

Effective: July 1, 2011.



Borders


    January 12, 2011, read first time and referred to Committee on Insurance.




Introduced

First Regular Session 117th General Assembly (2011)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1256


    A BILL FOR AN ACT to amend the Indiana Code concerning insurance.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 27-8-5-2.1; (11)IN1256.1.1. -->     SECTION 1. IC 27-8-5-2.1 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2011]: Sec. 2.1. (a) As used in this section, the term "policy of accident and sickness insurance" does not include the following:
        (1) Accident only, credit, dental, vision, Medicare supplement, long term care, or disability income insurance.
        (2) Coverage issued as a supplement to liability insurance.
        (3) Automobile medical payment insurance.
        (4) A specified disease policy.
        (5) A short term insurance plan that:
            (A) may not be renewed; and
            (B) has a duration of not more than six (6) months.
        (6) A policy that provides indemnity benefits not based on any expense incurred requirement, including a plan that provides coverage for:
            (A) hospital confinement, critical illness, or intensive care; or
            (B) gaps for deductibles or copayments.
        (7) Worker's compensation or similar insurance.
        (8) A student health plan.
        (9) A supplemental plan that always pays in addition to other coverage.
        (10) An employer sponsored health benefit plan that is:
            (A) provided to individuals who are eligible for Medicare; and
            (B) not marketed as, or held out to be, a Medicare supplement policy.
    (b) An insurer shall not issue or deliver an individual policy of accident and sickness insurance in Indiana unless the insurer accepts new risks for coverage under at least one (1) individual policy of accident and sickness insurance for at least five (5) years after the date the policy is first issued by the insurer in Indiana.