Bill > SB0257

This bill establishes a new chapter in the Indiana Code, titled "Fiduciary Duties," which states that any third-party administrator, pharmacy benefit manager, employee benefit consultant, or insurance producer acting on behalf of a plan sponsor (an employer or organization that offers health insurance coverage to its employees or members) owes a fiduciary duty to the plan sponsor. This means that these entities have a legal obligation to act in the best interest of the plan sponsor when managing the health insurance coverage offered to the plan sponsor's employees or members.