CMS Announces Updated Self-Administration Toolkit for WCMSAs
The Centers for Medicare & Medicaid Services (CMS) has released the Self-Administration Toolkit for WCMSAs version 1.7 on April 7, 2025. The Toolkit replaces Version 1.6, which was released on August 1, 2024.
To download the new Self-Administration Toolkit for WCMSA Version 1.7 click here.
Self-Administration with Additional Help
For injured parties who are considering self-administration, but also want additional consultation on the process, Medivest provides a Self-Administration Kit. With the purchase of the Medivest Medicare Set-Aside Self-Administration Kit, the injured party will receive a one-hour consultation on the proper administration of a Medicare Set-Aside account, covering topics including:
- Where to deposit and hold Medicare Set-aside funds
- Which expenses are allowed to be paid from a Medicare Set-Aside account
- What rates must be used to negotiate and pay expenses
- How to annually report the Medicare Set-aside to the CMS
- What to do if the MSA funds exhaust temporarily or permanently
- How to discuss a Medicare set-aside with a medical provider
- What are the tax implications of interest earned on Medicare Set-Aside funds
For Additional Information
Medivest will continue to monitor changes occurring at CMS and keep its readers updated when such changes are announced. For questions about self-administration, professional administration or anything else regarding rules and recommendations from CMS, feel free to contact the Medivest representative in your area by clicking here or calling us at 877.725.2467.
