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: Mar 1, 2024
BILL NUMBER: SB 215 BILL AMENDED: Feb 15, 2024
SUBJECT: Medicare Supplement Insurance.
FIRST AUTHOR: Sen. Walker K BILL STATUS: Enrolled
FIRST SPONSOR: Rep. Carbaugh
FUNDS AFFECTED:XGENERAL IMPACT: State
DEDICATED
FEDERAL
Summary of Legislation: The bill provides that after December 31, 2024, an issuer that makes a Medicare
supplement policy or certificate available to persons at least 65 years of age must make the equivalent policy
or certificate available to an individual under 65 years of age who is eligible for Medicare because of having
a federally defined disability or end stage renal disease.
(Under current law, an issuer that makes a Medicare supplement policy or certificate available to persons
at least 65 years of age is required only to make a Plan A policy or certificate available to individuals under
65 years of age, and is required to make the Plan A policy or certificate available to an individual under 65
years of age who is eligible for Medicare because of having a federally defined disability but is not required
to make the Plan A policy or certificate available to an individual under 65 years of age who is eligible for
Medicare because of having end stage renal disease.)
The bill provides that if an individual who is less than 65 years of age, who is eligible for Medicare because
of having a federally defined disability or end stage renal disease, and who meets certain conditions as to
application timeliness applies for a Medicare supplement policy or certificate, the issuer of the policy or
certificate is prohibited from:
(1) denying or conditioning the issuance or effectiveness of the individual's policy or
certificate;
(2) charging the individual a premium rate for a policy or certificate standardized as Plan
A, B, or D that exceeds the premium rate the issuer charges an individual who is 65 years
of age;
(3) charging the individual a premium rate for any other standardized lettered policy or
certificate that exceeds 200% of the premium rate the issuer charges an individual who is
SB 215 1 65 years of age; or
(4) issuing to the individual a policy or certificate that contains a waiting period or a
preexisting condition limitation or exclusion.
The bill provides for the expiration of Code provisions that would be superseded by the new requirements
applying to issuers of Medicare supplement policies or certificates.
Effective Date: July 1, 2024.
Explanation of State Expenditures:
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.
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected:
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Karen Rossen, 317-234-2106.
SB 215 2