Medical Malpractice Insurance Premiums

Medical malpractice insurance premiums have been rising at an alarming rate in the last few years. In one state alone, they increased over 250% over a three year period. That has serious repercussions for consumers, because doctors cannot afford to pay those premiums without passing the costs along to their patients. The actual rates vary by state, but some are as low as $10,000 a year and others reach as much as $200,000. Doctors alone pay over $6 million for medical malpractice insurance premiums. Needless to say, some doctors cannot and will not pay those rates. As a result, some excellent physicians are retiring. Others are moving to states with tort reform, where legislation limits caps on damage awards and keeps malpractice rates lower.

Fast Facts

  • One report shows that the average insurance rate increase in states with damage caps on non-economic awards is 15%. The average increase in states without caps is 44%.
  • If costs nearly $25,000 to defend against a malpractice claim.

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