Ind. Code ch. 27-1-25.5

Ind. Code ch. 27-1-25.5
in effect

Ind. Code § 27-1-25.5-1 "Fiduciary duty"

Sec. 1. As used in this chapter, "fiduciary duty" includes the duty to: (1) act with loyalty and care in the best interest of the plan sponsor; (2) ensure that all fees, costs, and commissions are reasonably and fully disclosed; (3) avoid self-dealing and conflicts of interest; and (4) maintain transparency in all financial and contractual arrangements related to the plan sponsor's health insurance coverage, including prescription drug benefits. As added by P.L.69-2025, SEC.1.

Ind. Code § 27-1-25.5-2 "Health insurance coverage"

Sec. 2. As used in this chapter, "health insurance coverage" includes: (1) a group policy of accident and sickness insurance (as defined in IC 27-8-5-1); (2) a group contract (as defined in IC 27-13-1-16) that provides coverage for basic health care services (as defined in IC 27-13-1-4); and (3) any other group health plan that limits eligibility to members of a specific group. The term includes coverage of a dependent of the covered individual under a group policy or contract described in subdivisions (1) through (3). As added by P.L.69-2025, SEC.1.

Ind. Code § 27-1-25.5-3 "Insurer"

Sec. 3. As used in this chapter, "insurer" means an insurer that provides health insurance coverage to a covered individual. As added by P.L.69-2025, SEC.1.

Ind. Code § 27-1-25.5-4 "Pharmacy benefit manager"

Sec. 4. As used in this chapter, "pharmacy benefit manager" has the meaning set forth in IC 27-1-24.5-12. As added by P.L.69-2025, SEC.1.

Ind. Code § 27-1-25.5-5 "Plan sponsor"

Sec. 5. As used in this chapter, "plan sponsor" means an employer or organization that offers health insurance coverage to its employees or members through an insurer or a self-funded health benefit plan. As added by P.L.69-2025, SEC.1.

Ind. Code § 27-1-25.5-6 Fiduciary duty to plan sponsor

Sec. 6. Any: (1) third party administrator; or (2) pharmacy benefit manager; acting on behalf of a plan sponsor owes a fiduciary duty to the plan sponsor. As added by P.L.69-2025, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/27Fetched: 10/17/2026