Scott, Cardin Introduce PAID Act
WASHINGTON – Today, U.S. Senators Tim Scott (R-S.C.) and Ben Cardin (D-M.D.) introduced the Provide Accurate Information Directly (PAID) Act to allow the Centers for Medicare and Medicaid Services (CMS) to provide information directly to non-health insurers when settling overlapping claims of Medicare Advantage (MA) insurers. Non-health insurers include liability, workers compensation, and no fault (auto) insurers, as well as self-insured entities such as large retailers, grocers and supermarket chains, the hospitality industry, and many others.
“For years taxpayers have been financially burdened by the Centers for Medicare and Medicaid Services’ lack of ability to provide information to non-health insurers. Through this new reporting system, those responsible, who for years have wanted to repay Medicare payments, will now be able to do so, leading to millions of dollars returning to the federal government,” said Senator Scott. “I’m proud to introduce this legislation with my colleague Senator Cardin to ensure American dollars are being used appropriately.”
“Medicare Secondary Payer (MSP) laws are nearly 40 years old. It’s important that we have bipartisan support to streamline information sharing among settling parties to ensure Medicare plans and the taxpayers aren’t inappropriately on the hook for costs,” said Senator Cardin. “This update is long-overdue and will be a win for consumers and taxpayers.”
This legislation creates a “win” for all stakeholders. It allows beneficiaries to settle faster, Medicare to collect more funds quicker, and settling parties the ability to resolve claims with finality. Supporters include MARC (Medicare Advocacy Recovery Coalition), Walt Disney Parks and Resorts U.S., UPS, Nationwide Mutual Insurance Company, MetLife, Farmers Insurance, Allstate Insurance Company, American Family Insurance, American Property Casualty Insurance Association, Gallagher Bassett, Sedgwick, RCM&D/SISCO, Franco Signor, and Acclamation Insurance Management Services.
Click HERE to view the full text of the bill.