MSA's
Allocation that is part of a workers’ compensation settlement for future medical expenses related to the work injury, which are covered by Medicare
What is an MSA
Allocated for medical expenses that Medicare does not cover or that are unrelated to the injury.
What is an MCP / Non MSA
settlement with an initial seed deposit
What is a structure settlement
Professional administration service offered by Ametros. It sets up a bank account for an injured party's settlement funds and acts as the custodian of these funds and the third-party administrator responsible for managing all healthcare expenses.
What is CareGuard
LMSA
what is Liability Medicare Set-Aside
An MSA ensures that Medicare remains the secondary
What is payer
The Data team will update this field in Dynamics and select " MCP"
What is the allocation type
Remaining balance of a structured settlement is mailed to them
Who is the Life Company
Member card AND includes essential information in case you visit your provider
What is the Welcome packet
Involving a Medicare Set-Aside in liability cases requires systematic assessment and planning. The process protects
What is Medicare's interests
While beneficiaries can manage their MSA funds, using a professional administrator is highly recommended to ensure
What is compliance and efficiency ( I will accept one)
When funds are depleted , Medicare does not automatically step in to cover expenses, unlike
What is an MSA
The funds will generally pass to the account holder’s estate or follow the stipulations of their will as long as this form is filled out
what is the Beneficiary form
There is no specific regulation that formally mandates a Liability Medicare Set-Aside (LMSA). However, failing to consider Medicare's future interests can have
what is significant consequences
The MSA can be funded as both a
what is Lump sum and Structured settlement
MCPs, are sometimes known as
What is a Non Qualified medical ( i will accept Medical Custodial Account)
$4,789 will be mailed out yearly on this structured settlement, what is $4,789?
What is the funding amount
When you have remaining funds at the end of the year, allowing you to continue utilizing them in the future.
What are Roll over / Carried over funds
The Centers for Medicare and Medicaid Services (CMS) have maintained that Medicare’s interests should be taken into account when resolving not just MSA & MCP but also
what is Liability claims
Spending MSA funds on non-covered items may lead to
what is Denied Medicare claims
MCP accounts are advantageous for their
what is Flexibility and Management ( i will accept one of these)
$789 will be sent on the 29th of every December for the next 25 years, 29th of December is
what is the Recurring funding date
Member has full visibility into their account and activity with this tool
What is the Careguard member portal
Unlike Workers' Compensation MSAs, LMSAs lack formal CMS review
what is Threshold