Should You Self Administer MSA or Use Professional MSA Administration?
The Center for Medicare and Medicaid Services (CMS) published a helpful Workers Comp Medicare Set Aside Self Administration toolkit for those who are up to the task. The toolkit is 31 pages long and includes the above flow chart. Before taking the plunge into self administration carefully consider what you are getting into.
Why Do People Self Administer Their MSA?
- Small amount of MSA
- Perception that professional administration is costly
- Lack of awareness of their ongoing responsibilities
One of the more “tasty” requirements for self administration is that you must determine if the treatment is related to the workers compensation injury AND is a Medicare covered service and Medicare fee schedules!. However, stringent guidelines must be followed because beneficiaries are held to the same standards to which a professional administrator is held with regard to what may and may not be paid from the MSA. The claimant has the same reporting requirements as a professional administrator.
Why consider professional administration for your MSA?
The cost of professional administration varies. A number of professional administrators now charge cost effective one time fees.
More information on Medicare Set Aside Arrangements
CMS WCMSA Self Adminstration Toolkit
*Someone at CMS forgot the ” I before e, except after c” rule in the above chart!
