The Injured Patients and Families Compensation Fund Board on Wednesday approved a 10 percent decrease in Fund fees for the 2014-2015 fiscal year. Fee notices are expected to be mailed to physicians and other Fund participants in mid-2014. The Board’s decision to decrease fees for the second straight year was based on the recommendation of the Board’s actuarial and underwriting committee and reports of the Fund’s actuaries.
The fees for physicians and surgeons insured through the Wisconsin Health Care Liability Insurance Plan (WHCLIP) will not change in 2014-2015 and there will be no change in fees for hospital professional liability and hospital general liability coverage.
The Injured Patients and Families Compensation Fund is a trust created to pay medical negligence claims that exceed physicians’ primary layer of medical liability insurance. In 2011, the state returned $200 million plus lost earnings and interest to the Fund following the Wisconsin Medical Society’s successful lawsuit challenging the state’s raid on the Fund in 2007.
Past President Robert Jaeger, MD, one of the Society’s two representatives on the 13-member Fund Board, made the motion to decrease the fees beginning July 1, 2014. Linda Syth, CEO of Wisconsin Medical Society Holdings Corp., is the Society’s other representative on the Board, which also includes legal, hospital, industry and public representatives.
WHCLIP was created by statute in 1975, as an insurer of last resort to provide the primary level of medical liability insurance to Wisconsin health care providers. WHCLIP is managed by an outside manager with oversight by the Office of the Commissioner of Insurance.
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