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 Liability Medicare Set-Aside Allocation (LMSA) 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 LMSA allocations that allow the settling parties to confidently proceed forward with their settlement.
What Is a LMSA Report?
A Liability Medicare Set-Aside (LMSA) refers to a financial arrangement that is established in certain legal cases involving Medicare beneficiaries who have or may have future Medicare entitlements. It is specifically related to cases where a liability insurance settlement, judgment, or award is made to a Medicare beneficiary to cover future medical expenses.
The purpose of an LMSA is to “set aside” a portion of the settlement funds to cover the Medicare beneficiary’s future medical expenses that would typically be covered by Medicare. These funds are held separately and are intended to be used solely for Medicare-eligible expenses related to the injury or illness for which the settlement was awarded.
The establishment of an LMSA helps ensure that Medicare is not billed for expenses that should be covered by the settlement. It assists in protecting the Medicare program’s interests by preventing the inappropriate use of Medicare funds.
Every Liability 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.