InsurCard MSA Webinar
InsurCard will host a webinar to discuss its new technology-based MSA (Medicare Set-Aside) program at 2 PM, Tuesday, March 22. The presentation will discuss a shocking reality of today’s MSA Market – the fact that less than 10% of settlement recipients choose to use a Professional Administrator. This decision leaves settlement recipients without medical discount programs for pharmacy and doctor visits, without assistance in recordkeeping and reporting, and without a way to get answers to basic MSA questions.
Bob Mendte, president of InsurCard, will discuss CMS rules, the realities of the MSA Market, and how InsurCard is using technology to mitigate frequent problems encountered by settlement recipients who choose to self-administer their MSA funds. The InsurCard MSA program is offered at no cost to settlement recipients and insurers.
CMS (Center for Medicare Services) establishes MSA guidelines, which presume, but don’t require, that settlement recipients receive professional help. The InsurCard MSA program follows CMS rules, using modern debit card functionality to replace the need for professional administration. For example, InsurCard’s debit card doubles as a pharmacy card and a payment card. The debit card will only work on purchases allowed under CMS guidelines. Problems caused by the temporary exhaustion of settlement funds are avoided. All purchases are tracked and recorded for CMS annual reporting.
InsurCard has been a leader in electronic payments for the insurance industry for more than a decade, processing over $4 billion in payments annually. InsurCard programs apply the latest electronic payment capabilities to meet the P&C Insurance industry’s needs. All InsurCard payment programs are designed to meet the legal requirements of the insurance and banking industries.
To learn more, visit https://www.InsurCard.com/msa/
Mr. Mendte is the founder of InsurCard. Prior to InsurCard, he spent over 20 years at Cigna P&C, followed by claims management and financial consulting at Prudential, NJM, Zürich, US Bank, and Discover Card.
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