About Administration

When a personal injury case is settled for a Medicare beneficiary, be it workers’ compensation or liability, a Medicare Set Aside (“MSA”) may be implemented. Once the decision is made to utilize an MSA, the question becomes how will it be administered? The criteria for MSA administration is that the funds may only be used to pay for future medical expenses of the type normally covered by Medicare for treatment of the injury victim’s injury related medical conditions. CMS’s guidelines (for workers’ compensation cases) indicate that set aside funds should be placed in an interest bearing account and may be either professionally administered or self-administered. For most injury victims, administering their own set aside can be a daunting task because they must determine what is Medicare covered, pay the right amount for the Medicare covered services and keep records of all expenditures.

Professional administration is a much better alternative for larger set asides. The question becomes who do you turn to for administration services for a Medicare set aside when one will be utilized? How do you choose between providers? These aren’t simple questions to answer. However, Synergy does have the answers and a solution to Medicare Set Aside administration. Synergy’s Medicare Set Aside Administration program is different because it employs a Medicare Set Aside Trust arrangement instead of a custodial agreement like most other professional administration programs.

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"I learned of Synergy through the state trial lawyers association when I was looking for help in dealing with Medicare. As you know, dealing with Medicare can be difficult and time consuming. We all get the articles and updates regarding Medicare, but Synergy does an incredible job of clarifying so many questions. I cannot thank you and the Synergy staff enough for the assistance, insight, and professionalism. You can be sure that I will only be recommending Synergy to my clients for Medicare issues in the years to come."

Jared P. Greenberg
Greenberg & Strelitz, P.A.

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Understanding Structured Settlements and Medicare Set-AsidesThird Thursday Webinar Series

The parties agree that a Medicare Set-Aside is needed, now what? In this month's webinar, presented by Synergy CEO, Jason D. Lazarus, you will learn about the process basics for setting up a set aside including MSA allocations, funding mechanisms for set-asides, post-settlement administration as well as an overview of the process to make sure you close the case compliantly.

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