Sec. 13.5. (a) This section applies only to the following:
(1) A group policy of accident and sickness insurance, as defined in IC 27-8-5-1. However, this section does not apply to the types of insurance and coverage described in IC 27-8-5-2.5(a).
(2) A group health maintenance organization contract entered into under IC 27-13.
(b) Except as provided in subsection (e), an insurer that issues an insurance policy or a health maintenance organization that enters into a health maintenance organization contract shall disclose to the policyholder or subscriber in a separate written notification:
(1) any commission, service fee, or brokerage fee that has been or will be paid to an insurance producer for selling, soliciting, or negotiating the policy or contract; and
(2) whether the amount disclosed under subdivision (1) is based on a percentage of total plan premiums or a flat per member fee.
(c) An insurer or health maintenance organization shall provide a copy of the written notification described in subsection (b) to the policyholder or subscriber:
(1) when the insurance policy is issued or the contract is entered into; and
(2) each time the insurance policy or contract is renewed.
(d) Each copy of a written notification described in subsection (b) must include a signature line on which the policyholder may sign to acknowledge receiving the written notification.
(e) This section does not require the disclosure to the policyholder of a commission, service fee, or brokerage fee in connection with the issuance of an insurance policy if a federal law or regulation requires disclosure of the commission, service fee, or brokerage fee to the policyholder.
As added by P.L.50-2020, SEC.4.