§ 6-8-11-5 — "Higher deductible"

Indiana § 6-8-11-5

• Jurisdiction: Indiana
• Art. 8: MISCELLANEOUS
• Ch. 11: Employee Medical Care Savings Account Plans

Text

(a) As used in this chapter, for calendar year
1996, "higher deductible" means a deductible of:
(1) not less than one thousand dollars ($1,000); and
(2) not more than five thousand dollars ($5,000).
(b) For calendar years after 1996, the term means a deductible of:
(1) not less than the figure set forth in subsection (a)(1), adjusted
under subsection (c); and
(2) not more than the figure set forth in subsection (a)(2), adjusted
under subsection (c).
(c) The adjustments referred to in subsections (b)(1) and (b)(2):
(1) may reflect increases in the general level of prices since 1995;
and
(2) must be based on:
(A) the Consumer Price Index updated monthly by the Bureau
of Labor Statistics of the United States Department of Labor; or
(B) other figures issued by the government of the United States
to indicate increases in the general level of prices in the United
States.

Legislative History

As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.