Audit: Wisconsin Medical Malpractice Fund Healthy

Posted Friday, March 8, 2013 --- 10:40 a.m.

MADISON, Wis. (AP) -- A new report says Wisconsin's medical malpractice insurance fund is rebounding from a massive transfer and the economic downturn.

The Legislative Audit Bureau released a study Friday that found the fund's net asset balance stood at $361.3 million as of mid-2012.

The fund was $109 million in the red in mid-2009. The report ties the deficit largely to 2007-09 state budget provisions that shifted $200 million from the fund to Medicaid.

The state Supreme Court ruled the transfer was illegal and the state transferred $234 million back into the fund in August 2011. The study notes, too, that the fund's investment earnings have been growing over the last two years.

The fund has paid $807.8 million to cover 660 claims between its creation in 1975 and mid-2012.

Copyright 2013: Associated Press


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
NBC15 615 Forward Drive Madison, Wisconsin 53711 Business: 608-274-1515 Newsroom: 608-274-1500
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 196315681 - nbc15.com/a?a=196315681
Gray Television, Inc.