The Pennsylvania Insurance Department's Mcare Fund announced in the Oct. 22, 2016, Pennsylvania Bulletin that the Mcare assessment for 2017 will be 19 percent of the prevailing primary premium (i.e. the rate that the Joint Underwriting Association (JUA) would charge a heath care provider in the applicable specialty and territory).
The assessment amount represents an increase compared to 2016, when the assessment was 17 percent of the prevailing primary premium.
Mcare calculated the 2017 assessment in accordance with the settlement agreement of litigation between the commonwealth and the Pennsylvania Medical Society (PAMED), the Hospital and Healthsystem Association of Pennsylvania, and the Pennsylvania Podiatric Medical Association.
According to Mcare, claims payments were up slightly—$160 million for the 2016 assessment rate versus $174 million for the 2017 assessment rate. The projected starting balance was lower than last year—$27 million for 2016 compared to $14 million for 2017. Both JUA rates and Mcare operating expenses remained unchanged.
PAMED members with questions on Mcare can contact our Knowledge Center at 855-PAMED4U (855-726-3348).