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Are You Prepared for the CMS Paid-Claims Reporting Requirements?

First few Article Sentences

Starting in 2010, the identity of a Medicare beneficiary whose illness, injury, incident, or accident was at issue in a paid liability, no-fault, or workers’ compensation claim must be reported to the Centers for Medicare and Medicaid Services (CMS). Insurers and self-insured organizations that pay such claims should have registered with CMS as “required reporting entities” by September 30, 2009. After a testing period during the first quarter of 2010, quarterly reporting of claims paid to Medicare beneficiaries will begin during the second quarter of 2010 for all such claims settled or tried to a verdict on or after January 1, 2010. CMS can impose penalties for failing to report claims and for late reports of up to $1,000 per day per claim.


Morse, Gary

 

Physicians Insurance A Mutual Company

Insurance

November 1, 2009

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