IC 27-1-4.5-7: Fine for noncompliance; disciplinary action for repeated noncompliance

Sec. 7. (a) The department may assess:

(1) an insurer;

(2) a third party administrator; or

(3) a pharmacy benefit manager;

that violates section 5 of this chapter a fine of one thousand dollars ($1,000) per day for which the report is past due.

(b) A fine under this section shall be deposited into the payer affordability penalty fund established by IC 12-15-1-18.5.

(c) The department may waive a fine assessed under this section.

(d) The department may take disciplinary action against:

(1) an insurer;

(2) a third party administrator; or

(3) a pharmacy benefit manager;

that is licensed under this title for repeated violations of section 5 of this chapter.