PASSED: Senator Scott’s PAID Act Reforming Medicare Provision
WASHINGTON—Senator Tim Scott (R-SC) released the following statement upon the passage of his Provide Accurate Information Directly (PAID) Act, which will save tens of millions of taxpayer dollars through targeted and commonsense updates to Medicare Secondary Payer (MSP) statute.
“Today, the PAID Act has taken a pivotal step closer to becoming law, filling in Medicare-related potholes that have cost seniors, Main Street job creators, and the American taxpayer millions of dollars over the years. Decades-old regulations and bureaucratic red tape have caused confusion and avoidable litigation in the MSP for far too long, and by eliminating those problems we can help seniors and families across the country. I feel confident that we can see the PAID Act signed into law by the end of the year.”
As the Centers for Medicare and Medicaid Services note, MSP “is the term generally used when the Medicare program does not have primary payment responsibility – that is, when another entity has the responsibility for paying before Medicare.” You can read more on the MSP here.
Specifically, the PAID Act will:
- Help settling parties resolve claims related to Medicare Advantage (MA) and Part D plans fairly and efficiently by improving transparency around relevant beneficiary information—namely, the identity of the MA or Part D plan in question, along with the dates of coverage.
- Adapt MSP to a changing Medicare landscape, where more than one-third of beneficiaries are now enrolled in MA plans, and where most receive Part D coverage.
- Retain existing requirements and payment obligations for settling parties and CMS, ensuring that MSP continues to protect taxpayers.
Supporters of Senator Tim Scott’s PAID Act include the Medicare Advocacy Recovery Coalition (MARC), Walt Disney Parks and Resorts U.S., United Parcel Service, Nationwide Mutual Insurance Company, MetLife, Farmers Insurance, Allstate Insurance Company, American Family Insurance, American Property Casualty Insurance Association, Gallagher Bassett, Sedgwick, RCM&D Self-Insured Services Company (SISCO), Franco Signor, and Acclamation Insurance Management Services.
Click here to read full bill text.