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Follow on Google News | PA Orthopaedic Surgeons Praise Insurance Commissioner Teresa Miller DecisionMedical Liability Premiums to Remain Stable in Continually Changing Health Care Landscape
By: Pennsylvania Orthopaedic Society (POS) “Commissioner Teresa Miller’s decision today affirms the Wolf Administration’ Act 13 of 2002 established the Mcare Program and provided that physicians must obtain $1,000,000 in medical liability insurance coverage. Of that amount, $500,000 is acquired from the private market (basic coverage) and $500,000 is provided through the Mcare Program (Mcare coverage). The act authorizes a medical liability market capacity study every two years and authorizes the insurance commissioner to increase the basic coverage limits in $250,000 increments up to the $1,000,000 level if the study shows adequate capacity exists. This review, however, does not include an analysis of the potential cost implications to doctors from increasing the basic coverage limits. According to several insurance sources, an increase to $750,000 in basic coverage limits would result in premium increases for high risk specialty physician by as much as 25%. The POS vigorously advocated for the basic coverage limits to remain at $500,000. “High risk specialty physicians faced tremendous premium increases January 1, 2016 if Act 13’s phase out provisions were allowed to be implemented. Fortunately, Commissioner Miller’s appropriate action stopped this intolerable premium increase dead in its tracks. With the slow national economic recovery and continued downward pressure on physician reimbursement from all payment sources, such a spike in medical liability costs would have been a needless blow to Pennsylvania’ POS is a professional medical specialty organization representing more than 1000 orthopaedic surgeons across Pennsylvania in advocating for excellence in the practice of orthopaedic medicine. For more information on the importance of bone, joint and muscle health at every age, visit the POS website at www.paorthosociety.org and ‘A Nation in Motion’ at www.anationinmotion.org. End
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