TITLE 760 DEPARTMENT OF INSURANCE
Final Rule
LSA Document #05-266(F)
DIGEST
Amends
760 IAC 1-60-5 regarding the Indiana Patient's Compensation Fund surcharge rates for fellowships, part-time and locum tenen physicians. Effective 30 days after filing with the Publisher.
760 IAC 1-60-5 Part-time and retired physicians
Authority:
IC 34-18-5-2
Sec. 5. (a) A physician who practices medicine on a part-time basis shall pay a reduced surcharge as follows:
(1) A physician who practices medicine ten (10) twelve (12) hours per week or less shall receive a credit equal to seventy-five percent (75%) of the surcharge amount.
(2) A physician who practices medicine more than ten (10) twelve (12) hours but less fewer [sic.] than twenty (20) twenty-five (25) hours per week shall receive a credit equal to fifty percent (50%) of the surcharge amount.
(3) A physician who practices medicine more than twenty-five (25) hours per week but fewer than thirty-one (31) hours per week shall receive a credit equal to twenty-five percent (25%) of the surcharge amount.
(b) Medical school faculty shall receive a credit equal to sixty-seven percent (67%) of the surcharge amount. As used in this subsection, "medical school faculty" means a physician engaged in research or teaching at a medical school as defined in
IC 25-22.5-1-1.1(h). To be eligible for the credit,
no not more than thirty percent (30%) of the physician's time may be spent treating patients whose treatment is unrelated to the physician's duties at the medical school.
(c) Newly licensed physicians shall receive a credit equal to fifty percent (50%) of the surcharge amount during their first year of practice and twenty-five percent (25%) during their second year. For purposes of this subsection, a physician is considered newly licensed for two (2) years after:
(1) completion of a residency program or a fellowship program in their medical specialty; or
(2) the fulfillment of a military obligation in remuneration for medical school tuition.
(d) A physician participating in a fellowship program shall pay the following:
(1) If the fellowship is full time and the physician is engaging in no other medical practice, the physician shall pay an annual surcharge equal to fifty percent (50%) of the surcharge due for the specialty class of the fellowship.
(2) If the physician is engaging in a medical practice outside of the fellowship, the physician shall pay the greater of the following:
(A) The full-time surcharge due for the medical practice outside of the fellowship.
(B) Fifty percent (50%) of the surcharge due for the specialty class of the fellowship.
For purposes of this subsection, "part-time" has the meaning described in subsection (a)(2).
(d) (e) A retired physician shall pay an annual surcharge in the amount of five hundred dollars ($500).
(e) No (f) Not more than one (1) credit may be applied to a physician in any policy year.
(Department of Insurance; 760 IAC 1-60-5; filed Oct 23, 1998, 2:45 p.m.: 22 IR 756; filed Aug 6, 1999, 2:35 p.m.: 22 IR 3936; filed Apr 26, 2004, 2:00 p.m.: 27 IR 2730, eff Jul 1, 2004; filed Aug 23, 2006, 3:58 p.m.: 20060906-IR-760050266FRA)
Notice of Intent: October 1, 2005; 29 IR 58
Proposed Rule: April 1, 2006; 29 IR 2354
Hearing Held: May 9, 2006
Approved by Attorney General: August 11, 2006
Approved by Governor: August 23, 2006
Filed with Publisher: August 23, 2006, 3:58 p.m.
Documents Incorporated by Reference: None Received by Publisher
Small Business Regulatory Coordinator: Amy Strati, Chief Counsel, Department of Insurance, 311 W. Washington Street, Indianapolis, IN 46204, (317) 232-0143, astrati@doi.state.in.us
Posted: 09/06/2006 by Legislative Services Agency
DIN: 20060906-IR-760050266FRA
Composed: May 07,2024 5:21:31AM EDT
A
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