SAN FRANCISCO--(BUSINESS WIRE)--The Strengthening Medicare and Repaying Taxpayers Act (SMART Act) which was signed into law by President Obama, is good news for Medicare beneficiaries, businesses and taxpayers.
“This reform is a positive step because it allows us to resolve claims involving Medicare beneficiaries more quickly and efficiently for the benefit of all affected parties.”
In today’s system, claims involving a Medicare beneficiary severely hamper settlement to the point where many cases cannot settle at all because the parties are unable to determine their obligations to reimburse Medicare. The SMART Act will improve the efficiency of the current Medicare Secondary Payer program by creating an electronic process by which Medicare can advise parties how much is owed to the Medicare Trust Fund.
The passing of this bill has several important benefits including a quicker resolution to claims involving Medicare beneficiaries as well as reimbursing the Medicare Trust Fund in a timely manner. Paul Gabel, senior vice president, claims for the NORCAL Group, commented, “This reform is a positive step because it allows us to resolve claims involving Medicare beneficiaries more quickly and efficiently for the benefit of all affected parties.”
As a physician advocate, NORCAL supported this bill in its federal lobbying efforts and greatly appreciates the work that Congress and the President did in enacting this important bipartisan legislation.
NORCAL Mutual Insurance Company, PMSLIC Insurance Company and Medicus Insurance Company, members of the NORCAL Group, are medical professional liability insurers providing protection to more than 28,000 physicians, healthcare extenders, medical groups, hospitals, community clinics and allied healthcare facilities in the nation. The companies share a group rating of “A” (Excellent-Stable) by A.M. Best for their financial strength and stability. NORCAL Mutual is based in San Francisco, CA, and operates in California, Alaska and Rhode Island. PMSLIC is based in Mechanicsburg, PA, and operates in Pennsylvania and Delaware. Medicus is headquartered in Austin, TX, and is licensed to sell medical professional liability insurance in 37 states across the nation.