Legislative record

RELATING TO INSURANCE.

Provides that after 12/31/2025, each new or renewed contract between a mutual benefit society and a physician for a fee for service plan shall provide for: (1) The reimbursement of the physician's increased overhead costs, cost of living increases, and increased costs caused by inflation; and (2) An increase of 10% in the reimbursement rate of services after each 5-year period that the physician is in service.