Bill to Increase Frequency of Payment of Claims From Patient’s Compensation Fund
Indiana Senate Bill 354, sponsored by State Senator Allen Paul (R, 27th Dist.), proposes to require claims for payment from the State’s medical malpractice Patient’s Compensation Fund to be computed and paid every three months instead of every six months as required by current law.
Under current law, claims for payment from the Patient’s Compensation Fund that become final during the first six months of the calendar year must be computed on June 30 and paid no later than July 15, while claims becoming final in the last 6 months of a year must be computed on December 31 and paid no later than January 15. SB 354 would increase the computation and payment schedule to quarterly, with computation and payment dates for the first quarter being March 31 and April 15, the second quarter being June 30 and July 15, the third quarter being September 30 and October 15, and the final quarter being December 31 and January 15.
According to the fiscal analysis of the bill prepared by the Indiana Legislative Services Agency, the proposed change would increase the workload of the Department of Insurance staff in processing payments from the Fund, but that increase would not require additional staff or resources. Moreover, more frequent payments would not cause any revenue impact to the State.
SB 354 was read for the first time January 9, 2012 and referred to the Senate Committee on Judiciary. No further action has been taken on the bill, and despite its fairness to claimants and lack of adverse fiscal impact for the State, it is unknown whether the bill will become law in this year’s short legislative session.
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Read the fiscal analysis:
Track the bill’s progress through the 2012 General Assembly:
If you believe you or someone you love may have a medical malpractice case, please contact Sweeney Law Firm to get your questions answered and learn your legal rights. There is no cost or obligation for us to evaluate your case.