Section 27-8-13-12 - Reasonable benefits; loss ratio standards(a) Medicare supplement policies must return to policyholders benefits that are reasonable in relation to the premium charged.(b) The commissioner shall adopt rules under IC 4-22-2 to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, or incurred health care expenses if coverage is provided by a health maintenance organization on a service rather than reimbursement basis, and earned premiums in accordance with accepted actuarial principles and practices.As added by P.L. 255-1989, SEC.9. Amended by P.L. 126-1992, SEC.10.