Medivest recognizes the important role we play in the settlement of workers’ compensation and personal injury claims and how imperative it is to understand and assist settling parties with Medicare Secondary Payer (MSP) compliance. A Medicare Set-Aside Allocation (MSA) Report is one of the first steps taken in an effort to consider Medicare’s future interest. Medivest has an outstanding record for providing accurate and timely MSA allocations that allow the settling parties to confidently proceed forward with their settlement.
What Is a MSA Report?
A Medicare Set-Aside Allocation Report is a detailed report indicating what the anticipated Medicare allowable, injury-related expenses will be for the remainder of the injured individual’s life expectancy. In other words, Medicare set-asides are a portion of the settlement funds that are “set aside” to pay for the Medicare covered injury related future medical treatment.
The types of settlements that are eligible for a MSA report include those arising from liability and workers’ compensation claims. For workers’ compensation awards, many call the report a WCMSA. For a liability settlement, it is called a LMSA.
The LMSA and WCMSA reports provide the settling parties with a dollar amount that should be “set aside” out of the settlement to satisfy Medicare’s future interests. These reports are a detailed analysis based on an individual’s injuries, anticipated treatment and life expectancy.
When using set-asides, the funds go into a particular type of account held for payments as needed. Each year, the administrator provides detailed accounting to Medicare about the expenses paid on the beneficiary’s behalf. Before Medicare covers injury related treatment, the beneficiary must exhaust all set-aside funds.
Every Medicare Set-Aside Allocation Report produced by Medivest is written by a highly trained nurse that possesses a wealth of knowledge and experience in the preparation of these reports. We also have certified coders who review every allocation with the most up-to-date coding and pricing available.