To trim insurance costs, more and more risk managers self-insure or shoulder self-insured retentions. One challenge confronting such risk managers is complying with a relatively new federal law known as the Medicare, Medicaid, and SCHIP Extension Act of 2007, known as “MMSEA.”
A disclaimer: I am not a lawyer. What follows is not legal advice. MMSEA compliance is a new area, one where each risk manager should seek professional — perhaps legal — help. The following is a broad-brush impression of how MMSEA will impact risk managers.
The law's aim is to protect Medicare from covering medical costs deemed to be the responsibility of an insurance company, self-insured entity, or another organization. The federal government is developing extensive data reporting requirements that must weigh in any risk manager's decision to self-insure or to administer a self-insured retention. The law applies to liability claims, and it has teeth that can bite.
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