The Injured Patients and Families Compensation Fund (IPFCF) board of directors approved a 10 percent decrease in fund fees for the 2018-2019 fiscal year on Wednesday. This is the sixth consecutive time the Board has approved a decrease. Assessments (fees) decreased by 30 percent in 2017-2018 and 2016-2017, 34 percent in 2015-2016, 10 percent for 2014-2015 and 5 percent for 2013-2014.
At its December 2017 meeting, the board deferred its decision to this week’s meeting while awaiting further actuarial data on which to base the decision. The 10 percent decrease is in response to the recommendation of the actuarial committee. Assessment notices reflecting the new decrease will be mailed to physicians and other IPFCF participants in May.
Created by statute in 1975, the IPFCF is a trust set up to pay medical liability claims that exceed physicians’ primary layer of medical liability insurance. In 2011, the state returned to the fund $200 million, plus lost earnings and interest following the Wisconsin Medical Society’s successful lawsuit challenging the state’s raid on the IPFCF in 2007.
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