Terms Used In Indiana Code > Title 27 > Article 1 > Chapter 50 - Group Prescription Drug Rebates

• Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
• Contract: A legal written agreement that becomes binding when signed.
• covered individual: means an individual who is entitled to health insurance coverage. See Indiana Code 27-1-50-1
• defined cost sharing: means a deductible payment or coinsurance amount imposed on a covered individual for a covered prescription drug under the covered individual's health insurance coverage. See Indiana Code 27-1-50-2
• Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
• Dependent: A person dependent for support upon another.
• health insurance coverage: includes :

  Indiana Code 27-1-50-3

• Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
• insurer: means an insurer that provides health insurance coverage to a covered individual. See Indiana Code 27-1-50-4
• plan sponsor: means an employer or organization that offers health insurance coverage to its employees or members through an insurer. See Indiana Code 27-1-50-5
• rebate: means :

  Indiana Code 27-1-50-7

• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5