Funds Administration

When a settlement calls for a custodian for Medicare Set-Aside allocated funds or for future medical expenditures related to a Medicare Settlement föra cost containment can serve as the formal custodian. On behalf of the beneficiary, föra cost containment will hold and distribute assets according to the Settlement Agreement specifications.settlementfundsadmin01

Future medical expenditure funds, on behalf of the beneficiary, are deposited in an annuity or investment account for payment disbursements. föra cost containment takes required steps to make sure that the approved account is created and administered in accordance with Medicare guidelines.

The process is that providers are instructed for approved services, to send their bills direct to föra cost containment for payment. föra cost containment will review incoming bills for appropriateness and to identify if they are within the scope of the Agreement. They will then be reviewed for further cost containment measures through our re-pricing processes. Once the bill is re-priced, the payment will be issued in full compliance with Medicare Secondary Payer Act (MSP).

Other cost containment measures föra cost containment will take include:

  • *Arranging discounts, as well as ordering, delivering, and providing any necessary training required associated with durable medical equipment such as wheelchairs, beds, respiratory therapy units, bone growth stimulators, etc.
  • *Arranging and coordinating transportation needs
  • *Negotiate ALL medical bills
  •  *In coordination with the injured-party’s pharmacist, obtaining prior authorization of new prescriptions that are injury-related

 

föra cost containment provides account reporting, at a minimum annually, to both the beneficiary and the Centers for Medicare and Medicaid Services (CMS). If funds are exhausted, föra cost containment will notify CMS so that Medicare can resume primary coverage for the injury that generated the settlement.

When a settlement calls for a custodian for Medicare Set-Aside allocated funds or for future medical expenditures related to a Medicare Settlement föra cost containment can serve as the formal custodian. On behalf of the beneficiary, föra cost containment will hold and distribute assets according to the Settlement Agreement specifications.

Failure to protect Medicare’s interests can result in penalties, fines and lawsuits for the parties involved in the settlement, and can result in loss of Medicare benefits for the injured party.

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