DataPath recently published ‘Using Technology to Enhance the Delivery of MSA Benefits,’ a white paper that evaluates the challenges that self-administered Medicare Set Aside (MSA) accounts present to both workers’ compensation MSA recipients and third party vendors, such as Pharmacy Benefit Managers (PBMs). However, the think piece argues, there is an available technology-based solution that enhances MSA benefits and helps each party involved.
MSA beneficiaries who self-administer their accounts face a bevy of hurdles. In addition to having to file claims for reimbursement, they need secure access to their settlement funds. Furthermore, strict CMS rules require them to file annual reports regarding all transactions and spending, which means they have to perform very detailed recordkeeping. A spending or reporting error can be very costly as it can result in a forfeiture of future Medicare benefits.
For PBMs, many of them currently offer benefit discount cards for clients to use within their pharmacy network. However, if the customer loses the card or forgets to bring it with them, they cannot receive their discount.
Both parties need an all-in-one solution that can enhance MSA benefits delivery through:
- Enhanced recordkeeping
- Real-time reporting
- Quick, secure access to MSA funds
- A reduction in unqualified spending
- Reliable customer service
- Pharmacy discounts
- And more
Access this free white paper from DataPath, “Using Technology to Enhance the Delivery of Medicare Set-Aside (MSA) Benefits,” to learn more.