LANSDALE, Pa., September 22, 2021 / PRNewswire / – InsurCard® the nation’s leading provider of electronic payment solutions has introduced breakthrough insurance technology for MSA recipients. InsurCard’s Medicare Set-aside Program (MSA) helps MSA recipients manage their own insurance bills using technology available through the payment card networks.
MSA recipients manage their own insurance bills using technologies available through the payment card networks.
“Our program is a debit card-based product designed for individuals who have received insurance claims and are required to follow Medicare shutdown regulations,” said the founder and CEO of InsurCard Robert Mendte. “The MSA program is a suite of automated tools designed to provide the benefits of professional management to those who choose to self-manage their settlement.”
Although professional MSA management companies are available, more than 90% of MSA recipients choose to manage their insurance bills themselves. However, the regulations established by the Center for Medicare Services (CSM) can be complex, and MSA self-government requires careful record and carries heavy penalties for failure. This is one of many reasons InsurCard’s MSA solution is an ideal option.
Here are other notable features:
- Discount programs for pharmacies, medical providers, drugs, and long-life medical devices
- Reduced rates for hospital and medical bills based on government employee compensation plans
- Automated record keeping and CMS reporting
- Payment tracking
- Programmed Dealer Category Codes (MCC)
- Debit cards that avoid improper purchases based on CMS guidelines
- Reduced budget utilization through low balance notifications
- Website access to all account transactions and balances
- A HIPAA compliant 24 hour call center
In the InsurCard program, a debit card doubles as a pharmacy card and a payment card. The debit card will only work on purchases that are allowed under CMS guidelines. All purchases are tracked and recorded for annual CMS reporting. If necessary, money can be withdrawn from the account, but must be tracked by the person.
Congress passed the MSA legislation and regulations to protect the interests of Medicare and US taxpayers. Failure to properly manage an MSA account could have dire consequences, including denial of Medicare coverage when necessary, which could leave the beneficiary responsible for all medical claims and improperly managed funds.
Admission to the InsurCard MSA program is free. Settlement recipients should always consult their legal representative regarding the program.
Headquarters outside of Philadelphia, InsurCard has been a leader in electronic payments for the insurance industry for more than a decade and processes over $ 4 billion of payments annually. InsurCard is a wholly owned subsidiary of Service Network Design, LLC. InsurCard’s prepaid card programs have been specially developed to meet the stringent requirements of the insurance and prepaid card industry. To learn more, please visit https://insurcardmsa.com/.
InsurCard MSA administrator
View the original content to download multimedia:https://www.prnewswire.com/news-releases/insurcard-launches-revolutionary-technology-for-medicare-set-aside-program-301382100.html