The Insurance Department has determined that the annual assessment to be levied for calendar year 2012 shall be 23% applied to the prevailing primary premium for each participating health care provider.
The total assessment cost for 2012 will be $203,824,513. This amount is $26,741,075 more than what was collected form the 2011 assessment to cover claims, expenses and a 10% buffer. The difference will be paid from MCARE’s carryover balance. The increase in the assessment percentage for 2012 is attributable to an increase in claims in 2011, as well as a rate reduction by the JUA.
