When Can You Use Medical Administration and How to Do You Know If It’s a Good Fit?
Settling a workers’ compensation or liability case can be stressful and confusing. After settlement, many injured parties find themselves without the proper resources to manage their medical care, funds, and any required reporting. Many parties don’t know when to involve an administrator, or when administration is a good fit. We help answer the most common questions about Ametros and administration, including how and when to involve us:
Can a person who has already settled their workers’ compensation or liability case use Ametros?
Ideally, the best time to involve Ametros is early on in the settlement process. But, if the injured party has already settled their workers’ compensation or liability case, they can still use Ametros to administer their Medicare set aside (MSA) or medical settlement. All we need is a copy of the MSA, invoices and receipts for any purchases made from the account. From there we can begin compiling the reporting for the Centers for Medicare and Medicaid Services (CMS).
At Ametros, we can work with MSA holders that have gaps in their reporting. We do our best to clean up any old files they have and get them to Medicare. Then we fulfill all reporting requirements moving forward to show Medicare that the injured party is taking the right steps to get back on track.
Does it matter how long ago the case was settled?
It doesn’t matter how long the case has been settled for, injured parties can sign up for Ametros’ settlement solutions, Amethyst or CareGuard, at any time to receive support and savings when managing their future medical funds. We’ve helped handle situations where injured parties had settled their case, and within a few years became overwhelmed by the required reporting to CMS and managing payments for their treatments. We helped these injured parties become CareGuard members, and helped relieve the burden of reporting, while providing them with savings to extend the life of their funds.
How can an injured party who has settled their case gauge whether Ametros would be a good fit for them?
Ametros can help injured parties in a variety of situations. Some of the factors that might be a good indicator to involve Ametros are if the injured party:
- Is afraid their settlement money will run out
- Has MSA reporting concerns
- Wants help managing their medical funds
- Wants to pay less than full price for their medical care
If the injured party would like to remain in control of their funds while still receiving savings and support, Ametros’ self-administration tool, Amethyst, allows them to keep the funds in their own bank account, while helping them compile any necessary reporting. If the injured party doesn’t want the hassle of managing their funds, Ametros’ professional administration service, CareGuard, sets up a professionally managed account in the injured party’s name, and helps facilitate all treatments and prescriptions, provides savings, and completes any required reporting.
Our team is always more than happy to speak to injured parties to help determine what the best option is for them, and answer any questions they may have!
What would be the benefit to the injured party by using Ametros vs going at it alone?
Ametros’ services were created so the injured party is able to access the best savings on treatments and prescriptions while having a resource after settlement to provide support. In the case of an MSA, Ametros is a resource to help handle all of the tedious compliance and reporting responsibilities that come along with the funding of an MSA.
Ametros provides an average savings of 62% on provider bills, and 28% on all other healthcare expenses. If the injured party were to manage their funds on their own, they would not have access to network discounts, and would pay full price for treatments. They would also have no guidance or resource to help answer any questions they may have.
In the case of an MSA, the injured party would have to rely on the WCMSA Reference Guide to complete all required reporting, including keeping track of every expense made out of the MSA fund. This reporting can be complicated, and if not completed properly, could jeopardize the injured party’s future Medicare benefits.
How would the injured party reach out to Ametros to inquire further about services?
Injured parties can go to our website and set up a free settlement consultation at https://info.ametroscards.com/settlement-consultation, email us at referral@ametroscards.com, or call us at 1-877-275-7415.
Administration can help alleviate many concerns and fears that injured parties have about settling, while providing savings and support after settlement. Ametros offers many options and can work with all injured parties and their attorneys to find a solution that works best for them.
Explainer video for CareGuard
Explainer video for Amethyst