Professional Administration

Medivest's Professional Administration services are the most widely used in the industry. No one has been doing it longer. Our experience provides us with a unique perspective learned from administering MSA arrangements and medical custodial accounts since 1996. Professional Administration is an appropriate and highly effective vehicle for addressing the needs created by settlements with larger and more complex medical components.

Medicare Set-Aside (MSA) Arrangements
MSA Arrangements are designed to assure CMS (Centers for Medicare and Medicare Services) regulations by administering settlement monies solely designated for the coverage of Medicare-allowable medical and pharmaceutical expenses. Our account administrators are responsible for all aspects of account management. This includes exercising cost-containment strategies which stretch settlement dollars and guard against dissipation.

Medical Custodial Accounts (MCA)
Medical Custodial Accounts are commonly used in conjunction with Medicare Set-Aside Arrangements to administer settlement monies designated for the coverage of medical expenses not normally covered by Medicare. MCA's may also be used in a "stand-alone" fashion, utilizing the same cost-containment tools and professional oversight as MSA Arrangements.

MCA-Open Accounts
MCA-Open accounts reduce the hassle associated with administering the medical component of an unsettled claim. They take the burden of medical claims processing and annual report compilation away from the adjuster, almost as if the claim was settled. These accounts are especially useful for claims with states of jurisdiction that prohibit by law the settlement of claims with a future medical component.

Old Dog Accounts
Old Dog Accounts are utilized in situations where settlement cannot occur because the claimant is concerned that a future medical expense (such as a surgery) may be required but the settling party believes it will not be necessary. Old Dog Accounts are funded with just what is needed to cover the expense. If the money is not utilized for it's intended purpose within a specified period of time, it is returned to the payor.