MSA opinion letter prepared by us takes approximately three weeks. CMS approval takes approximately two to three months.
The workers’ compensation insurance carrier needs an MSA to set aside funds to ensure that the insured’s anticipated future medical expenses are covered by the settlement and that the burden of the expense of the insured’s medical expenses does not fall solely on Medicare. By setting aside this money and obtaining approval of the amount [...]
The workers’ compensation insurance carrier needs an MSA when (a) the settlement amount is over $250,000.00 in total and the insured is receiving social security disability benefits and expects to be on Medicare within thirty months of the settlement date, or (b) the insured is already on Medicare (if settlement exceeds $25,000.00).
This is an arrangement through which the workers’ compensation insurance carrier allocates an approved amount of money aside from the settlement of the claim (which can be structured and/or monitored in a number of different ways) to cover future medical expenses of an injured worker that would otherwise be processed by Medicare. In order to [...]