MSA
Settlement
Groups
As part of the Settlement team, you provide injured parties with the data needed for a successful resolution of their claim. Adding InsurCard’s MSA Self- Administration option to your tool box of services adds value and helps those who want to self-administer agree to settle.
InsurCard’s MSA Program Can be the Solution for the 90+% of Injured Parties who Prefer Self-Administration
During Negotiations the Injured Party May:
Not Believe that Settlement Funds will be Adequate.
Think that Reporting and Record Keeping Requirements are Overwhelming.
Want to Maintain Some Control over Money.
Need Help with Questions and Problems Post Settlement.
Worry that Their Lives will be Burdened by Requirements of Settlement.
InsurCard MSA
Programs Provide
Benefits to Injured Parties
Tracking
Tracks Expenses for Reporting to CMS so your Claimant Never has to.
Reporting
Send Email Notice of CMS Reporting Dates.
Reviews
Prepares Annual Attestation Report for Review.
Compliance
Ensures your Claimant is Compliant.
Discounted Pricing
InsurCard’s Pharmacy Program Rivals Insurance Company discounts. Workers Comp Pricing is Negotiated for Hospital and Doctor’s Bills.
How Do Administration
Choices Compare?
Designed for your claimants who want to SELF-ADMINISTER their MSA because they want some control over their money while making their funds last longer.
Self-Administered By Claimant
InsurCard MSA Program Assistance
Professional Administration
MSA Settlement Proceeds Bank Account
Claimant responsible for depositing the funds. May mingle the proceeds with personal funds.
Funds deposited into a separate interest-bearing account for Claimant. Not mingled with claimant’s personal funds.
Separate bank account established in Claimant’s name. Not mingled with Claimant’s personal funds.
Cost of Medical Services
Claimant may be charged full cost of services.
Discounts negotiated to reduce cost of services.
Discounts negotiated to reduce cost of services.
Paying for Services
Claimant must make payments.
Bank-issued branded debit cards used by Claimant makes payments.
Payments made for Claimant by Administrator.
Tracking Payments
Claimant must keep records of all fund transactions.
Automated technology records and tracks transaction details. Real-time portal available to Claimant to monitor payments.
Payments recorded in portal.
Reporting
Claimant responsible for submitting all reports to CMS.
Reports drafted for Claimant’s review and submission to CMS.
Automated reporting for Claimant.
Customer Services
N/A
Available 24/7 to Answer questions
N/A
Risk
Claimant may use funds for services not related to the Settlement. CMS may impose fines Lack of access to discounts risks early exhaustion of MSA funds.
Automated payment and record keeping reduce risk of non-compliance.
Reduced risk of non-compliance.
Program Membership Cost
N/A
No Cost.
Administrative Fee Charged.
MSA Settlement Proceeds Bank Account
Self-Administered By Claimant
Claimant responsible for depositing the funds. May mingle the proceeds with personal funds.
Insurcard MSA Program Assistance
Funds deposited into a separate interest-bearing account for Claimant. Not mingled with claimant’s personal funds.
Professional Administration
Separate bank account established in Claimant’s name. Not mingled with Claimant’s personal funds.
Cost of Medical Services
Self-Administered By Claimant
Claimant may be charged full cost of services.
Insurcard MSA Program Assistance
Discounts negotiated to reduce cost of services.
Professional Administration
Discounts negotiated to reduce cost of services.
Self-Administered By Claimant
Claimant may be charged full cost of services.
Insurcard MSA Program Assistance
Claimant may be charged full cost of services.
Professional Administration
Discounts negotiated to reduce cost of services.
Paying for Services
Self-Administered By Claimant
Claimant must make payments.
Insurcard MSA Program Assistance
Bank-issued branded debit cards used by Claimant makes payments.
Professional Administration
Payments made for Claimant by Administrator.
Tracking Payments
Self-Administered By Claimant
Claimant must keep records of all fund transactions.
Insurcard MSA Program Assistance
Automated technology records and tracks transaction details. Real-time portal available to Claimant to monitor payments.
Professional Administration
Payments recorded in portal.
Reporting
Self-Administered By Claimant
Claimant responsible for submitting all reports to CMS.
Insurcard MSA Program Assistance
Reports drafted for Claimant’s review and submission to CMS.
Professional Administration
Automated reporting for Claimant.
Customer Services
Self-Administered By Claimant
N/A
Insurcard MSA Program Assistance
Available 24/7 to Answer questions
Professional Administration
N/A
Risk
Self-Administered By Claimant
Claimant may use funds for services not related to the Settlement. CMS may impose fines Lack of access to discounts risks early exhaustion of MSA funds.
Insurcard MSA Program Assistance
Automated payment and record keeping reduce risk of non-compliance.
Professional Administration
Reduced risk of non-compliance.
Program Membership Cost
Self-Administered By Claimant
N/A
Insurcard MSA Program Assistance
No Cost.
Professional Administration
Administrative Fee Charged.