Federally Supported Health Centers Assistance Act of 1992

Federally Supported Health Centers Assistance Act of 1992 - Amends the Public Health Service Act to include entities receiving Federal funds under provisions relating to migrant health centers, community health centers, or health services for the homeless, or health services for residents of public housing, and officers, employees, or certain contractors of such entities who are licensed or certified health practitioners, in the coverage of provisions regulating civil actions for injury resulting from medical or related functions against commissioned officers or employees of the Public Health Service. Makes such actions the exclusive remedy against such entities and individuals. Subrogates to the United States any insurance claim such an entity or person has. Terminates such inclusion after a specified date.

Prohibits deeming such an entity to be an employee of the Public Health Service unless the entity has: (1) implemented policies and procedures to assure against malpractice and the risk of lawsuits; (2) reviewed the professional credentials, claims history, and other information regarding its licensed health care practitioners; (3) no history of claims against the United States under these provisions, or has cooperated with the Attorney General in defending against such claims and has taken corrective action; and (4) has cooperated with the Attorney General in providing information relating to an estimate of expected claims.

Empowers the Attorney General, if certain conditions are met, to determine that an individual physician or other practitioner not be deemed a Public Health Service employee for purposes of these provisions.

Prohibits hospitals from denying admitting privileges to an otherwise qualified health care provider who is an officer, employee, or contractor of such an entity.

Mandates an annual estimate of the amount of claims expected to be paid and, subject to appropriations and a dollar maximum, establishment of a fund of that amount.