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Death to MSA Annuities?
Death to MSA
Why You Should Care
About Senate Bill 3079
On June 18, 2018, Senator Rob Portman (R-OH)
introduced Senate Bill 3079, Medicare Secondary
Payer and Workers’ Compensation Settlement Agreements Act of 2018. The Bill introduces several initiatives aimed at
streamlining the CMS Medicare Set-Aside review and appeals process, including
an option to allow MSA funds be paid directly to Medicare.The Bill
suggests an alternative to self or professional administration of a MSA –
optional “direct payment” of the MSA to CMS.
Not only will the “direct payment” option have
the potential to significantly reduce the number of MSA annuities used in
Workers Compensation and Liability settlements, it will negatively impact
injured parties post settlement:
·Increased costs since the injured worker will be subject to
Medicare co-pays and deductibles.
·Reduced access to care since the injured worker would be
restricted to Medicare-approved providers.
·Injured worker will be 100% reliant on government Medicare
·Potential overpayment to Medicare if the injured worker
underspends the MSA funds, removing opportunity for savings or final
distribution to a beneficiary.
Our firm is keeping a close eye on these developments and all others with respect to the structured settlement industry and will keep you apprised of any important developments.
For 20 years we have been Michigan's best and only plaintiff focused structured settlement consultant.
If you have any questions or would like a custom structured settlement annuity quote on one of your cases please don't hesitate to contact us at firstname.lastname@example.org or (734) 433-1670.
We look forward to seeing many of our plaintiff attorney friends at the Michigan Association for Justice No-Fault seminar tomorrow!
You probably know us best for our Plaintiff Focused Structured Settlement Consulting services. You may not know that we also help plaintiff attorneys and their clients resolve those nasty LIENS that threaten your hard won settlements through our partnership with PROVIDIO!
Please click the link below for more information on our lien resolution services: