The Medicare Secondary Payer Charitable Foundation Announces Free Professional Medicare Set-Aside Administration for Qualified Beneficiaries
The Medicare Secondary Payer Charitable Foundation(MSPCF), a newly founded not-for-profit organization, announces that it will provide free professional Medicare Set-Aside Administration nationwide for qualified beneficiaries beginning October 1, 2011.
The foundation was created to provide much needed assistance to Medicare beneficiaries facing MSP compliance issues resulting from an insurance settlement. In addition to offering a variety of low or no cost education and advocacy services, the foundation proposes to offer a solution to the high cost of for-profit professional administration and the unworkable situation faced by injured beneficiaries attempting to self-administer their Medicare Set-Aside Arrangements. The MSPCF will provide all of the same services currently provided by for-profit administrators at no charge to qualified beneficiaries.
The MSPCF will retain MEDVAL, one of the country’s oldest and most trusted MSP compliance and professional administration firms, to service the individual sub trust accounts. MEDVAL has contractually committed to contribute significant financial and operational support over the next five years while the foundation gains critical mass and widespread industry acceptance.
“This is a solution that is long overdue. For-profit administration is underutilized because the service is far too expensive for Payers and Plaintiffs. Self-administration has proven to be a tremendous burden to injured beneficiaries and has not achieved the goal of protecting the Medicare Trust Fund. By taking the profit motive out of MSA administration, eliminating sales commissions, driving down operating costs through technology and seeking charitable partnerships and willing corporate sponsors of this new business model, I believe the MSPCF is poised to permanently shift the way MSA funds are administered,” commented Board of Trustee member and MEDVAL General Counsel Jennifer C. Jordan, Esq.
The Medicare Secondary Payer Charitable Foundation is independent of its sponsors and vendor neutral. Any CMS approved MSA over $25,000, from any vendor, payer, claimant or attorney, will be accepted for administration subject to the terms and conditions of the master trust and joinder agreements.
The Medicare Secondary Payer Charitable Foundation is a Maryland based not-for-profit corporation. For additional information, please email firstname.lastname@example.org or visit www.mspcf.org.