Can you explain some of the responsibilities and benefits of professional trust administration for Medicare Set-Aside allocations? -Vivien, NC Attorney
Professional trust administration is a means of removing the burden of tracking and accounting medical bills (related to an MSA) from a Medicare beneficiary and handing it over to a trust administrator. The responsibilities include making payments directly to service providers, maintaining records, reducing payments to state fee schedules (where applicable), annual reporting to CMS, and providing access to DME and pharmacy cost containment programs that may otherwise be unavaible. Managing these duties can be a lot for a beneficiary to handle, especially where extensive medical treatment is being sought and/or a beneficiary is incapable (mentally or otherwise) of complying with CMS’s requirements. Choosing the right trust administration provider will be the key to ensuring Medicare is protected and, at the same time, beneficiaries will not be denied Medicare benefits due to misuse of MSA funds.
Contact us for more information on Medicare Set-Aside Allocations and Post-Settlement Trust Administration.
MEDVAL 1-888-SET-ASIDE (1-888-738-2743)
Medicare Set-Aside Allocation/Arrangement Recommendations
Submissions to Centers for Medicare and Medicaid Services
Pharmacy Benefit Management
CMS MSAs medicare set-aside arrangements Turbo Tagger