October 03, 2023
Area(s) of Interest: PSLF
The California Medical Association (CMA), California Hospital Association (CHA), Texas Medical Association (TMA), and Texas Hospital Association (THA) recently hosted a free webinar on the new federal Public Service Loan Forgiveness Program (PSLF) rules, which expand eligibility for California and Texas physicians. The one-hour webinar is now available for on-demand viewing and is available free to all interested parties.
Under the new rules, which launched on July 1, 2023, physicians who have qualifying loans, make 120 qualifying payments, and provide services 30 hours/week in a non-profit health care facility (hospital, foundation, clinic or other organization) may now qualify for the federal PSLF program, despite state prohibitions on physician employment by private non-profit hospitals, clinics, foundations and other health care entities.
The webinar provides specific instructions about how more California and Texas physicians can qualify for PSLF. It also covers 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 provides information about eligible qualifying loans and the new eligibility criteria. There is also 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.
Additional information can be found in CMA’s guide “Public Service Loan Forgiveness: What California Physicians Need to Know.”