MLMIC’s The Albany Report offers policyholders a concise, insiders’ view of pending legislative, regulatory and political developments that have an impact on physicians, dentists, hospitals and other healthcare professionals practicing in New York State. The latest edition of MLMIC’s The Albany Report focuses policyholder attention on the recently enacted 2022-23 New York State budget.
Specifically, the April 2022 issue of The Albany Report details these items of interest to the New York State medical professional liability insurance market:
- the continuation of the Physician’s Excess Medical Malpractice Insurance Program, commonly known as the “Section 18 Program,” without modifications initially proposed in the Governor’s executive budget;
- a one-year extension of the Department of Financial Services (DFS) Superintendent’s authority to “set and establish” primary and excess rates for physicians’ and surgeons’ MPL insurance;
- a $52 million appropriation for the NYS Medical Indemnity Fund (MIF); and
- a measure for telehealth payment parity through April 1, 2024.
The legislature declined to adopt a proposal from the Governor lowering of the current 9% judgment interest rate to the federal market rate and emphatically rejected a provision for placement of New York State in the Interstate Medical Licensure Compact.
The April 2022 edition of The Albany Report also provides insights on how MLMIC will be opposing harmful post-budget items and monitoring the upcoming primary elections not only for New York State Governor but also for Assembly and Senate seats.
You can access additional details in the April 2022 edition of The Albany Report here.
For over 40 years, MLMIC has been committed to meeting the medical professional liability insurance needs of physicians, dentists, hospitals and other healthcare professionals. As a core part of its mission, MLMIC is, and always has been, a strong advocate for the healthcare community and has effectively lobbied for legislative and regulatory reform to address those issues that continue to impact healthcare professionals. The Albany Report is intended to enhance this advocacy.