HB 3653

Abstract

Creates the Medical Malpractice Liability Insurance Premium Assistance Fund Act. Provides that the moneys in the Medical Malpractice Liability Insurance Premium Assistance Fund, which is created as a special find in the State treasury, shall be used by the Division of Insurance within the Department of Financial and Professional Regulation to provide assistance for the payment of medical malpractice liability insurance premiums to physicians in the State who maintain their practice in low-income areas (areas or neighborhoods where a majority of the residents are at or below 300% of the federal poverty level). Sets forth conditions for physicians to receive assistance. Requires the physician to submit documentation to the Division of Insurance showing compliance with the terms of the contract. Sets out the formula to be used for calculating the amount of assistance provided. Provides that, if funding available from the Fund is insufficient, the Division of Insurance may reduce the payments to each eligible physician a pro rata amount basis to maximize the number of physicians who may receive assistance. Provides that the payment amounts and the names of physicians receiving payments shall be public record, but that certain other information used by the Division of Insurance shall not. Amends the State Finance Act to create the Medical Malpractice Liability Insurance Premium Assistance Fund.