32.1-324.3 - Uninsured Medical Catastrophe Fund established.
§ 32.1-324.3. Uninsured Medical Catastrophe Fund established.
A. There is hereby created in the state treasury a special nonreverting fundto be known as the Uninsured Medical Catastrophe Fund, hereafter referred toas "the Fund." The Fund shall be established on the books of theComptroller. All contributions from income tax refunds and any other sourceshall be paid into the state treasury and credited to the Fund. Interestearned on moneys in the Fund shall remain in the Fund and be credited to it.Any moneys remaining in the Fund, including interest thereon, at the end ofeach fiscal year shall not revert to the general fund but shall remain in theFund.
B. Moneys in the Fund shall be used solely for the purposes of providing asource of payment for medical treatment of uninsured medical catastrophes. Anuninsured medical catastrophe shall include a life-threatening illness orinjury requiring specialized medical treatment, hospitalization, or both. TheBoard shall promulgate regulations that (i) further define an uninsuredmedical catastrophe, (ii) establish procedures for distribution of moneys inthe Fund to pay for the costs of treating uninsured medical catastrophes,(iii) establish application procedures, and (iv) establish criteria foreligibility for assistance from the Fund and the prioritization andallocation of available moneys among applicants for assistance from the Fund.
C. Expenditures and disbursements from the Fund shall be made by the StateTreasurer on warrants issued by the Comptroller upon written request signedby the Director of Medical Assistance Services.
(1999, c. 998.)