LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6945 NOTE PREPARED: Jan 24, 2024
BILL NUMBER: SB 215 BILL AMENDED:
SUBJECT: Medicare Supplement Insurance.
FIRST AUTHOR: Sen. Walker K BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED:XGENERAL IMPACT: State
DEDICATED
FEDERAL
Summary of Legislation: The bill provides, after December 31, 2024, the following protections to an
individual who is less than 65 years of age and is eligible for and enrolled in Medicare by reason of a
disability or having end stage renal disease:
(1) The bill requires an issuer of Medicare supplement policies or certificates (issuer) to
make available to the individual the equivalent Medicare supplement policy or certificate
that the issuer makes available to a person at least 65 years of age.
(2) The bill provides that an issuer required to make a Medicare supplement policy or
certificate available to the individual is prohibited from denying, conditioning the issuance
or effectiveness of, or discriminating in the pricing of a Medicare supplement policy or
certificate for the individual because of the health status, claims experience, receipt of health
care, or medical condition of the individual, subject to certain conditions.
(3) The bill prohibits an issuer:
(A) from charging the individual a premium rate for a Medicare supplement
policy or certificate that exceeds the premium rate the issuer charges an
individual who is 65 years of age; or
(B) from issuing to the individual a Medicare supplement policy or
certificate that contains a waiting period or a preexisting condition
limitation or exclusion; subject to certain conditions.
Effective Date: July 1, 2024.
Explanation of State Expenditures:
SB 215 1 Explanation of State Revenues: Insurance Premium Tax Revenue: If additional individuals who are under
65 years old and are eligible to enroll in Medicare due to a disability or have end-stage renal disease are able
to enroll in Medicare supplemental policies, premium collections in the state could increase and revenue to
the state General Fund from the corporate Adjusted Gross Income Tax or the Insurance Premium Tax would
increase. The increase in revenue may be tempered by the bill’s provisions allowing people currently
purchasing supplemental insurance to switch plans and limits on the premiums charged on new and
transferring policies or certificates.
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected:
Local Agencies Affected:
Information Sources: https://www.medicare.gov/medicare-savings-programs; FSSA.
Fiscal Analyst: Karen Rossen, 317-234-2106.
SB 215 2