20060906-IR-760050266FRA 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.

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

SECTION 1. 760 IAC 1-60-5 IS AMENDED TO READ AS FOLLOWS:

760 IAC 1-60-5 Part-time and retired physicians

Authority: IC 34-18-5-2

Affected: IC 25-22.5-1-1.1

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)

LSA Document #05-266(F)

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, [phone], [e-mail]

Posted: 09/06/2006 by Legislative Services Agency

DIN: 20060906-IR-760050266FRA

Composed: Oct 31,2016 11:30:29PM EDT

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