N.J. Admin. Code § 11:27-7.7

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:27-7.7 - Distribution of funds

(a) When distributed based upon a determination of eligibility as set forth in N.J.A.C. 11:27-7.5(a) and (b), the amount of the subsidy to be distributed for a relevant period shall be in the proportion that the qualifying increases in premiums and funding obligations for all eligible classes relate to the total amount of monies collected and allocated for distribution pursuant to N.J.S.A. 17:30D-29e(1), less administrative costs incurred in administering the Fund. Where eligibility for the subsidy is based on a determination that access to care is threatened in accordance with N.J.A.C. 11:27-7.5(c), the amount of the subsidy to be distributed for the relevant period shall be in the proportion that the number of qualifying practitioner-applicants in the eligible classes relates to the total amount of monies collected and allocated for distribution pursuant to N.J.S.A. 17:30D-29e(1), less administrative costs incurred in administering the Fund. The Commissioner may adjust the proportional amount of the subsidy distributed to an eligible class based on the average expenditure for medical malpractice liability insurance by practitioners in a class relative to the average expenditure by practitioners in the other eligible classes. The formula utilized to make such an adjustment shall be set forth in the Order issued pursuant to N.J.A.C. 11:27-7.5(f)2 and applied to the data collected pursuant to N.J.A.C. 11:27-7.4 for the year to which the subsidy pertains.

(b) Payments pursuant to (a) above shall be disbursed to each eligible applicant or to the applicant's designee as soon as practicable after the termination of the application period as set forth in N.J.A.C. 11:27-7.6(c).

Amended by R.2006 d.248, effective 7/3/2006.
See: 38 N.J.R. 1511(a), 38 N.J.R. 2833(b).
Rewrote (a).