The issue of Medicare Advantage Plans recovery rights has catapulted to the compliance forefront over the past few years following a series of court rulings finding that MAPs can sue claims payers for “double damages” under the Medicare Secondary Payer private cause of action provision.
Data management and statistical reporting are serious business - insurers must constantly prepare, manage, and report accurate data, daunting to larger insurers and even more difficult for start-ups or acquisitions.
OIRA announced CMS’s expected release of its Notice of Proposed Rulemaking proposals for Section 111 civil money penalties has been pushed to December 2019.
ISO ERC allows insurers to ingest ISO rating content electronically through XML, simplifying maintenance and update while giving flexibility to use own systems.
Lienholder and additional interest notifications, returned mail, producer notifications, and escrow invoices can move faster if insurers have the right tools.
Recent research conducted by Celent shows insurers that use Verisk’s ISO Electronic Rating Content are more likely to be current and spend less time processing changes.
Auto liability insurance reporting (ALIR) requirements help regulators in many states to match coverage to vehicles, but they’re a heavy burden on insurers.
One way responsible reporting entities can attempt to achieve full CMS compliance and avoid potential penalties is to closely consider file thresholds.
With CMS (Centers for Medicare and Medicaid Services) penalties on the horizon, we’ve been exploring how RREs (Responsible Reporting Entities) can be proactive in avoiding fines.
The timely reporting of ORM and TPOC data to CMS is of key importance to insurers, especially now enforcement of noncompliance penalties is on the horizon.
MSP is a challenging area of compliance for which federal law, regulations, and policy don’t always provide clear answers. It’s vital to understand fact vs fiction.