§ 27-1-24.7-7 — Contract requirement of notice to policyholder

Indiana § 27-1-24.7-7

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 24.7: Disclosure of Rebates

Text

An agreement to which this chapter applies
must contain a contractual provision that requires the pharmacy benefit
manager to provide on an annual basis, not later than sixty (60) days
after the end of each policy year, a notice to a policyholder that states
the following:
(1) An explanation of what a rebate is.
(2) An explanation of how rebates accrue to a health plan from a
manufacturer.
(3) The aggregate amount of rebates for all prescription drugs
dispensed or administered to covered individuals on the
policyholder's health plan that accrued to the health plan during
the previous policy year. This information may not include any
information about an individual prescription drug, including the
name, manufacturer, quantity, or dosage of a prescription drug.
The notice required by this section may be provided by first class mail
or electronic mail.

Legislative History

As added by P.L.216-2025, SEC.42.