MSA Risk? Help is Here!
PLANNING CHECKLIST #10
by Rick Bishop
Principal, Settlement Planners
Most attorneys are aware that the Medicare Secondary Payer Act can pose a significant risk for their clients and their own practices. Unfortunately, MSA guidance has been so vague in recent years, that the result has been more uncertainty and confusion than ever before.
What is an MSA account? It is money that is set aside after a settlement to satisfy the MSP requirements. It covers future medical expenses related to the injury for which medicare would ordinarily pay. An MSA is much like a deductible that must be spent down before Medicare will pay for future injury-related medical care. Even though CMS does not currently take the position that MSAs are required in tort settlements, it could begin to take such a position at any time.
At Settlement Planners, we help plaintiff attorneys manage the complexities of settlement planning every day. For Medicare set aside requirements, we work with you to assess each client’s unique situation and recommend one of two distinct paths:
- Self Administration
- Full Administration
Every case is different, and no single option is appropriate for every client. But we can help you evaluate the needs of your client and manage the risk to your practice. So give us a call, we can help you put MSA concerns behind you.
Call today. 800-727-3885.