Amendment of Regulation 552 under the Health Insurance Act by reducing Community Laboratories funding
Regulation - LGIC
Bill or Act:
Health Insurance Act
Summary of Decision:
Approved as proposed.
Summary of Proposal:
Amend Reg. 552 to insert the fiscal year funding amounts for the community laboratories (Industry Corporate Cap) for 2012-13, 2013-14 and 2014-15.
Implement the community laboratories funding reductions of $11 million dollars in fiscal 2013-14 and $11 million dollars in fiscal 2014-15 for lab tests volume reductions as identified by the 2012 Physician Services Agreement.
Therefore, the provincial cap will amount to:
o $660,004,368 in 2012/13 fiscal year;
o $649,004,368 in 2013/14 fiscal year; and
o $638,004,368 in 2014/15 fiscal year and subsequent years.
1075 Bay Street, Suite 900, Toronto
October 2, 2013