Wisconsin Medical Society | Medigram
Yesterday, the Injured Patients and Families Compensation Fund (Fund) approved waiving the upcoming fiscal year’s premiums for physicians, CRNAs and hospitals enrolled in the fund.
The Society has been working hard to find ways to assist its membership during these unprecedented times and approached the Fund with the idea of a premium holiday to provide some financial relief. "COVID-19 has posed unprecedented health and economic challenges to our state, and the health care industry is no exception," said Bud Chumbley, MD, MBA, a Fund Board member and the CEO of the Wisconsin Medical Society. "The premium holiday approved yesterday 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."
Full-time physicians will save between $382 and $2,521, depending on their specialty, with Residents saving $229 and part-time or retired physicians saving $95. The premium holiday will be in effect from July 1, 2020 through June 30, 2021. Additional details can be found in the Society's update or the Fund’s press release.