Indiana Code 27-1-47.5-5. Pricing; report
Current as of: 2023 | Check for updates
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Sec. 5. The department shall contract with a third party to do the following:
(A) self-funded plan prices;
(1) Calculate an Indiana nonprofit hospital system‘s prices from the commercially insured market, categorized by:
Terms Used In Indiana Code 27-1-47.5-5
- Contract: A legal written agreement that becomes binding when signed.
- Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
- Indiana nonprofit hospital system: means a hospital that:
Indiana Code 27-1-47.5-3
- Oversight: Committee review of the activities of a Federal agency or program.
- prices: means allowables that are paid for patient care services. See Indiana Code 27-1-47.5-4
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(B) fully-funded plan prices;
(C) the individual market prices; and
(D) the total combined prices of clauses (A) through (C);
expressed as a percentage of how much Medicare would have paid for the same services for the 2021 calendar year, the 2022 calendar year, and the 2023 calendar year.
(2) Not later than December 1, 2024, prepare a report of the findings in subdivision (1) and submit the report to the following:
(A) The department.
(B) The health care cost oversight task force established by IC 2-5-47.
(C) The budget committee for review.
As added by P.L.203-2023, SEC.21.