MEDVAL – About Us
MEDVAL, LLC is a Maryland domiciled limited liability company that provides pre-settlement and post-settlement services for high exposure workers’ compensation and liability claims that require Medicare’s interests to be protected pursuant to 42 C.F.R. 411 et seq.
As the first firm in the country to provide a fully integrated, one-stop solution for the Medicare Set-Aside process, we can recommend Medicare Set-Aside arrangements, submit them to the Centers for Medicare and Medicaid Services (CMS) for approval, provide annuity and lump sum funding options, and provide post-settlement medical trust administration to our clients all under one umbrella.
FIRM HISTORY –
MEDVAL commenced operations in 2001 as the Medicare Set-Aside issue gained nationwide awareness and insurance carriers were struggling to develop internal policies to deal with this new and uncertain federal requirement. On July 11, 2001, the Department of Health and Human Services Health Care Financing Administration published a memorandum addressed to All Associate Regional Administrators. This memorandum was the first installment that provided parties to a workers’ compensation settlement authority on what steps were required to protect Medicare’s interests under the Medicare Secondary Payer Act. Since that time, MEDVAL has submitted allocation recommendations and received approval from all ten CMS regions and continues to operate on the forefront of this evolving issue.
MEDVAL was created to address shortcomings faced by insurance carriers and claimants’ attorneys during the claims settlement process. In the past, obtaining a Set-Aside arrangement, submitting the recommendation to CMS for approval, procuring annuity funding, and administering the trust post-settlement involved three or four different firms. The process was slow, needlessly expensive, and cumbersome to consistently apply. Today, MEDVAL can handle each step from start to finish for a fraction of the cost charged by individual competitors.
Medicare Set-Aside Allocation/Arrangement Recommendations
Submissions to Centers for Medicare and Medicaid Services