1. (a) The department may assess:

   1. (1) an insurer;
   2. (2) a third party administrator; or

   3. (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.

2. (b) A fine under this section shall be deposited into the payer affordability penalty fund established by IC 12-15-1-18.5 .
3. (c) The department may waive a fine assessed under this section.

4. (d) The department may take disciplinary action against:

   1. (1) an insurer;
   2. (2) a third party administrator; or

   3. (3) a pharmacy benefit manager;

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

As added by P.L.239-2025, SEC.11.