Medicare Set-Aside Quiz

If you are considering administering your Medicare Set-aside Account (MSA Account) on your own, you need to know that there are many provisions, rules and regulations that govern what you can spend, how you can spend the funds in your MSA Account, and what record keeping, receipts and reporting are required.

Take this short Medicare MSA Quiz to see how much you know about managing an MSA Set-aside Account:

  • Do you know what the guidelines are for spending money from your MSA Account? 
  • Do you know what the penalty is for not spending your MSA funds according to CMS guidelines? 
  • Do you know how to determine if a certain medication is covered by Medicare for a specific condition? 
  • Do you know how to substitute an equivalent medication if a newly prescribed medication is not covered by Medicare? 
  • Do you know how to document that a newly prescribed medication is related to the accepted injury and should be paid from the MSA Account? 
  • Do you know what AWP is? 
  • Do you know where to find the AWP price accepted by CMS? 
  • Do you know how to look up pricing for medical treatment under your state's fee schedule? 
  • Do you know which, if any, administrative fees can be deducted from an MSA Account? 
  • Do you know how to report MSA expenses to CMS and when your MSA reporting is due?


If you answered “NO”, “NOT REALLY” or “SORT OF” to any of these questions, you may not be able to properly administer your MSA Account on your own. The penalty for not properly spending and reporting funds from your MSA Account is that you can jeopardize your future Medicare eligibility, and CMS will require you to put the misspent money back into the MSA Account and properly spend down that money before Medicare will start paying bills for your injury

Don’t jeopardize your future entitlement to Medicare benefits. Let MSA-meds:

  • Fulfill all your post-settlement prescription needs;
  • Make sure your doctor is prescribing medications that are covered by Medicare for your injury;
  • Make sure that you are charged according to the CMS approved MSA pricing method;
  • Keep track of all your medical expenditures, records and receipts; and
  • Report to Medicare as required.

 

All of these services are provided Free-of-Charge through MSA-meds.
Call us today for more information: Toll Free at 1-855-MSA-MEDS (855-672-6337)

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