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IronHealth is offering a Medicare set-aside liability policy for self-insured employers and workers compensation insurers that choose not to seek approval from the U.S. Centers for Medicare & Medicaid Services for workers compensation Medicare set-aside arrangements.
The policy allows for streamlined settlements and relief from the uncertainty of future Medicare enforcement actions from the worker's compensation settlement process, the Hamilton, Bermuda-based specialty health care unit of Ironshore Inc. said Tuesday in a statement.
The Medicare set-aside liability policy allows parties to a settlement the ability to forgo CMS approval with assurances that Ironshore will assume the risk of defense against future allegations by CMS that the MSA was not adequately funded, according to the statement.
“Seeking CMS approval of an MSA has been a decade-long challenge when settling workers compensation insurance claims,” Matt Dolan, president of IronHealth, said in the statement. “Ironshore is very comfortable assuming the long-term risk of insurance for a non-CMS approved settlement, and pleased to help make the MSA process more efficient for our insureds.”
Medicare set-aside accounts can’t be used to pay attorney fees associated with such arrangements, a Louisiana appellate court ruled.