Indiana Code 27-8-15-11. “Midpoint rate”
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Terms Used In Indiana Code 27-8-15-11
- base premium rate: means the lowest premium rate charged or that could have been charged under a rating system by the small employer insurer to small employers with similar case characteristics and benefit design characteristics. See Indiana Code 27-8-15-4
- benefit design characteristics: means the following:
Indiana Code 27-8-15-5
Sec. 11. As used in this chapter, “midpoint rate” means for small employers with similar case and benefit design characteristics the arithmetic average of the applicable base premium rate and the corresponding highest premium rate.
As added by P.L.127-1992, SEC.1.