Sec. 5. (a) If the possible liability of the fund to the patient is discharged solely through a direct payment made under IC 34-18-15-1, the limitations on recovery from the patient’s compensation fund established under section 3 of this chapter apply without adjustment.

     (b) If an agreement is made to discharge the fund’s possible liability to the patient through a periodic payments agreement, the amount of the patient’s recovery from the fund is:

Terms Used In Indiana Code 34-18-14-5

  • cost of the periodic payments agreement: means the amount expended by the health care provider (or its insurer), the commissioner, or the commissioner and the health care provider (or its insurer), at the time the periodic payments agreement is made, to obtain the commitment from a third party to make available money for use as future payment, the total of which may exceed the limits provided in section 3 of this chapter. See Indiana Code 34-18-14-1
  • periodic payments agreement: means a contract between a health care provider (or its insurer) and the patient (or the patient's estate), under which the health care provider is relieved from possible liability in consideration of:

    Indiana Code 34-18-14-2

(1) the amount of any immediate payment made directly to the patient from the fund; plus

(2) the cost of the periodic payments agreement paid by the commissioner on behalf of the fund;

for the purposes of the limitations on recovery from the fund established under section 3 of this chapter.

[Pre-1998 Recodification Citation: 27-12-14-5.]

As added by P.L.1-1998, SEC.13.

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