The insurance industry has highly appreciated the legislation to sort out delays and discrepancies in Medicare’s approval process for set-aside funds for injured workers’ claims.
Medicare necessitates that funds be set aside in trust for future medical expenses for injured workers who will become entitled for Medicare during their claim period. The Centers for Medicare plans and Medicaid Services (CMS) must agree to these set-asides for trusts more than $25,000 before a claim can be closed.
But CMS has been come in for criticized for taking to much time for reviewing and approving these trusts. Even if the injured worker has accepted the settlement, Health Plans claim can remain open and benefits continue to be paid sometimes for months until CMS signs off.
Rep. Dave Reichert, R-Wash., and Rep. Mike Thompson, D-Calif., have filed The Medicare Secondary Payer and Workers’ Compensation Settlement Agreement Act of 2012 (H.R. 5284), which intends to resolve the delays and introduce reliable standards into the evaluation of set-asides by CMS. The bill has been referred to the Ways & Means Committee for consideration.
The coalition for Medicare Secondary Payer reform, which comprises representatives of injured workers, employers and insurance carriers, has been working a number of years for improvement and supports the bipartisan Reichert-Thompson legislation. Members of the coalition include the American Insurance Association (AIA), National Council of Self Insurers (NCSI), Property Casualty Insurers Association of America (PCI), UWC – Strategic Services on Unemployment & Workers’ Compensation (UWC), Washington Self-Insurers Association (WSIA), American Association for Justice (AAJ), American Bar Association (ABA) and Workers Injury Law and Advocacy Group (WILG).
For more information please visit us @ www.medigap4seniors.com, , or call us at 888-502-5553 to speak with one of our Medicare experts.