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Premium relief from Injured Patients and Families Compensation Fund

06/17/2020 1:05 PM | Anonymous

June 17 | Wisconsin Medical Society

The Wisconsin Medical Society (Society) thanks the Board of Governors of the Wisconsin Injured Patients and Families Compensation Fund (the Fund) for declaring a premium holiday for the health care professionals and providers, enrolled in the fund, in effect from July 1, 2020, until June 30, 2021.

The Society has been working hard to find ways to assist its membership during these unprecedented times. The Society requested the holiday on behalf of all health care professionals and providers in Wisconsin, to help ease the economic hardships placed on them because of the COVID-19 pandemic.

“COVID-19 has posed unprecedented health and economic challenges to our state, and the health care industry is no exception,” said Bud Chumbley, MD., a Board member and the CEO of the Wisconsin Medical Society. “The premium holiday approved today by the Board will provide some financial relief to many of the Wisconsin medical professionals and providers who have been affected by the pandemic and who face ongoing challenges.”

This action will help those covered by the Fund who have experienced a significant decline in revenues due to the COVID-19 pandemic, particularly physicians in solo and small group practices.

The Fund is an essential element in maintaining medical liability insurance premiums at a manageable rate for those covered by the Fund. The favorable medical liability environment in Wisconsin helps recruit physicians to Wisconsin and retain physicians in Wisconsin.

For more information about the Wisconsin Medical Society, visit www.wismed.org.

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