Posted by John Cattie
CMS has posted an update on its website regarding the use of rated ages in Workers’ Comp MSAs. The update reads as follows:
“Effective immediately, submitted rated ages that do not conform to CMS' standards for acceptable proof of Rated Age, which includes being independent, on the letterhead of an insurance carrier or settlement broker, and includes a statement from the submitter that all rated ages obtained on the claimant have been included, will be priced using actual age and CMS will not consider re-pricing the workers' compensation case using the new or corrected rated age information provided by submitters.”
This update reinforces its Memo published on August 25, 2008 when its position regarding the proper use and disclosure of rated ages was originally promulgated. Those practitioners who prefer submitting Workers’ Comp MSAs to CMS for review and approval need to do so carefully. Unless the submitted rated ages are deemed to meet CMS’ standards for acceptable proof of Rated Age, the MSA proposal is likely not going to be approved, and CMS will request a higher amount to satisfy its future interest.
GFRG closely follows the CMS website in order to keep the legal community up-to-date with currently existing Medicare policies and procedures. GFRG is available to discuss this recent development, or any other MSA concerns you may have.
To read the CMS update, click here.