Contractors Insurance No Comments

SMART Act: Making Medicare Easier for Insurers and Consumers

SMART. RIMS. No, we’re not talking about the new line of children play sets from V-tech (though they do look pretty cool). And no, we’re not talking about rims to customize your Smart Car either (yes, people really do that). We’re talking about the Strengthening Medicare and Repaying Taxpayers Act, which President Obama signed back in January of 2013.

The SMART Act was designed to “improve and clarify the federal government’s otherwise unmanageable ability to seek reimbursement for healthcare expenses paid by Medicare and arising from a compensable tort.” It also makes the process more efficient and predictable for worker’s compensation carriers and primary payers. The SMART Act allows the Centers for Medicare and Medicaid Services (CMS) to know what’s supposed to come in and what’s supposed to be paid out.

Read more