Today’s issue of WorkCompRecap features NCCI’s release of a followup research update on a September 2014 study that it conducted on Medicare Set-Asides (MSAs) and is based on data from approximately 11,500 MSAs submitted to CMS between September 2009 and December 2015.
Key findings from this update include that CMS’s processing times have declined since 2012 and more recently hit their lowest level since 2010. NCCI noted that estimated future drug costs are the main reason for CMS requiring increases in MSA amounts. The gap between approved and submitted MSAs was also found to appear steady between 2013-15, largely due to future drug costs stabilizing after 2012. The report also notes that the larger the MSA, the larger the share of drug costs, noting that settlements above $100,000 are typically associated with more serious injuries, and patients often suffer from chronic pain and/or depression.
Find out more (including a link to the free brief!) by clicking here!