A growing balance in the Patient’s Compensation Fund (PCF), despite recent payouts, has translated to reduced rates for you. After the latest payout from the fund in January, the remaining balance is healthy at $182,782,282.41.
The January 2012 payout was $53,494,978.56, considerably more than the last payout in July that was $43,839,455.98.
|*Not available at presstime from the Indiana Department of Insurance
Though the balance is approximately $2 million less now than in July, the Indiana Department of Insurance – after consultation with the ISMA – agreed to offer physicians a rate reduction of 10.2 percent on the PCF surcharge set annually, as previously reported.
“We are pleased that our advocacy efforts with the Indiana Department of Insurance and in the courts are helping stabilize the PCF surcharges and preserve the fund’s balance,” said Julie Reed, ISMA general counsel.
By current law, the next scheduled payout from the PCF will occur in July.