Pennsylvania Code
Title 31 - INSURANCE
Part IX - Medical Catastrophe Loss Fund
Chapter 242 - MEDICAL PROFESSIONAL LIABILITY CATASTROPHE LOSS FUND
Section 242.5 - Adjustment of surcharge
Current through Register Vol. 54, No. 44, November 2, 2024
(a) Calculation of the surcharge shall be made based on the first policy written or renewed after January 1 of the calendar year. The surcharge amount shall be submitted to the Fund within 60 days of the effective date required by § 242.6 (relating to reporting forms and procedures). A subsequent adjustment to the premium for the basic insurance coverage shall be reported to the Fund by the basic insurance carrier and the surcharge shall be adjusted accordingly.
(b) In the event of an increase or decrease in the surcharge owed to the fund, the carrier shall submit proper evidence of the modification of the premium for the basic insurance coverage policy and shall indicate on the Form 216 a credit or debit to be applied to the account of the carrier. A refund check may not be issued to a carrier or health care provider unless unusual circumstances arise which indicate that a refund may be made.
The provisions of this §242.5 issued under sections 206 and 506 of The Administrative Code of 1929 (71 P. S. §§ 66 and 186); and section 701(e) of the Health Care Services Malpractice Act (40 P. S. § 1301.701(e)).
This section cited in 31 Pa. Code § 242.7 (relating to discontinuation of basic coverage insurance and notices of noncompliance); and 31 Pa. Code § 242.9 (relating to overpayments, credits, and duplicate payments).
