MSA
After reading the source and wiki multiple times, I am still a bit confused on this topic. Why would MSAs only be created for an injured worker under 65 years of age? Wouldn't there still be concern that a 67 year old injured on the job would spend their WC payout and then collect medicare ASAP?
Also the Wiki states (lame solution vs awesome solution) that the flaw with MSA was that there was no incentive for parties to comply, and MMSEA fixed this by requiring CMS review and accept the MSAs. This was actually not what I interpreted from the reading. The MSA review by the CMS was actually discussed in the MSA section, and the MMSEA just added a component that claim payers must report their data to the CMS
Comments
I find this statement at the end of page 13 of the text:
". . . As of 2012, CMS will review all workers compensation MSA’s where:
• The claimant is either a Medicare beneficiary and the settlement is greater than
$25,000 or
• The claimant is expected to be Medicare eligible within 30 months of the
settlement and the settlement or expected future medical costs and lost wages of the
injury exceeds $250,000. . . . "
So, MSA's must be created for both before and after Medicare eligibility. Wiki gives an MSA example only for <65, but I don't think the intention was to suggest that MSA's are created only for <65.
The text says CMS started issuing guidelines for submission and approval of MSA's in 2001 (page 13) and that in 2007, the MMSEA law was passed (page 14). I think the wiki alludes to the fact that the mandate of the law was much more effective than the previous CMS guidelines.
Thanks for your help on this!
Sure, good luck.
I'm confused. Is it a Medicare or Medical Set-Aside Allowance?
I would think it's medical, but want to make sure.
I was wrong. I looked it up. It's Medicare