2023 Indiana Code
Title 6. Taxation
Article 8. Miscellaneous
Chapter 11. Employee Medical Care Savings Account Plans
6-8-11-5. "Higher Deductible"

Universal Citation:
IN Code § 6-8-11-5 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Sec. 5. (a) As used in this chapter, for calendar year 1996, "higher deductible" means a deductible of:

(1) not less than one thousand dollars ($1,000); and

(2) not more than five thousand dollars ($5,000).

(b) For calendar years after 1996, the term means a deductible of:

(1) not less than the figure set forth in subsection (a)(1), adjusted under subsection (c); and

(2) not more than the figure set forth in subsection (a)(2), adjusted under subsection (c).

(c) The adjustments referred to in subsections (b)(1) and (b)(2):

(1) may reflect increases in the general level of prices since 1995; and

(2) must be based on:

(A) the Consumer Price Index updated monthly by the Bureau of Labor Statistics of the United States Department of Labor; or

(B) other figures issued by the government of the United States to indicate increases in the general level of prices in the United States.

As added by P.L.92-1995, SEC.2 and P.L.93-1995, SEC.2.

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