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Assembly to vote on security prescription fix this week

September 13, 2023
Area(s) of Interest: PSLF 


The California Medical Association (CMA) recently won a significant NEW expansion in the federal Public Service Loan Forgiveness (PSLF) program that extends eligibility to California physicians who were previously barred from participating. If you still have student loans and provided services in a nonprofit hospital, clinic/office owned by a 1206(l) foundation or other nonprofit entity for an average of 30 hours per week, you may now qualify. Even if you work for a for-profit sole proprietorship, have a contract with a for-profit partnership or are employed by a for-profit medical group, you may still qualify if the services you provided were in a facility owned by a nonprofit.

CMA has published a guide – “Public Service Loan Forgiveness: What California Physicians Need to Know”  – to help physicians determine whether they may qualify for hours worked back to 2007 or for future years of service. The guide also contains detailed instructions on the application form.

Join Us for a Webinar to Learn More

CMA along with the California Hospital Association (CHA), Texas Medical Association (TMA), and Texas Hospital Association (THA) are cohosting a free webinar on the new PSLF rules. The one-hour webinar is Thursday, September 28, 2023, at 12:15 p.m., Pacific time.

The webinar will provide specific instructions about how more California and Texas physicians can qualify for PSLF. It will also discuss how hospitals, foundations and other entities can serve as “qualifying employers” for purposes of PSLF, even though they are prohibited by state law from employing physicians.

The U.S. Department of Education will provide information about eligible qualifying loans and the new eligibility criteria. There will also be a legal presentation about the types of practices that qualify, the required written agreements between physicians and nonprofit entities, and suggestions for documenting the required work hours with time for your questions.

 

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