With purchase of the Medivest Medicare Set-Aside Self-Administration Kit, the injured person will receive a one-hour consultation on the proper administration of a Medicare Set-Aside account, covering topics including:
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MSA SELF-ADMINISTRATION KIT
The Medivest Medicare Set-Aside Self-Administration Kit (SAK) is a valuable tool developed by the nation’s leader in Medicare Set-Aside Professional Administration. It provides injured persons who have workers’ compensation or liability settlements the resources to assist in administration of their own Medicare Set-Aside (MSA) accounts. Our MSP compliance experts will equip the self-administering claimant with the knowledge and resources they’ll need in order to properly hold and disburse their MSA funds in treatment of their injury.
By purchasing a Medivest Medicare Set-Aside Self-Administration Kit, you’re demonstrating your intent to consider and protect Medicare’s interests in compliance with the Medicare Secondary Payer (MSP) Statute. You’re also making sure that the injured person will not be taking on administration without access to information and tools designed to help assist with the MSP compliance burden.
Self-Administration Benefits for Your Clients
The Centers for Medicare & Medicaid Services (CMS) — a part of the Department of Health & Human Services — oversees Medicare funds. The agency also monitors compliance with the MSP for injured individuals with a Liability Medicare Set-Aside (LMSA) or Workers’ Compensation Medicare Set-Aside (WCMSA).
When it’s an appropriate solution, Medivest’s LMSA and WCMSA self-administration toolkit can provide your client with:
- A low cost solution.
- Expert guidance on CMS compliance and management.
What’s the Difference Between Self-Administration and Professional Administration?
Under a self-administered MSA, your client may bear the entire responsibility of following the MSP rules. This oversight includes the annual reporting.
Professional administration brings in an experienced partner like Medivest as third party management. These services can help limit the risks and liability associated with self-administration. Medicare doesn’t require professional administration but strongly recommends it since the process can be complex.
Is Self-Administration Right for My Client?
Self-administration of a Medicare Set-Aside may be viable for your client if they are:
- Highly organized.
- Capable of understanding and meeting their obligations under the MSP statute.
- Inclined to inform themselves of payment rates and keep up with changes.
- Trustworthy to use funds appropriately and responsibly.
What’s Included
- 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 for 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
Medivest will provide some example documentation that can be referenced as the injured person learns to properly administer their MSA funds. Also, Medivest will provide the injured person with a copy of the CMS’ Self-Administration Toolkit for Workers’ Compensation Medicare Set-Aside Arrangements (WCMSAs), and show the injured person where they can obtain the most up-to-date versions.
The Benefit to You
The SAK serves as another hedge against the possibility of an injured person’s potential claim against an attorney for negligent representation if their future Medicare benefits are denied, and is a guard against CMS exercising recovery rights for non-compliance against any or all parties to the settlement.
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