Ametros CEO Marques Torbert Discusses Settlement Strategies at the American Bar Association’s Workers’ Compensation MidWinter Conference
Wilmington, Mass. (March 27, 2018) — Marques Torbert, the CEO of Ametros, discussed various techniques for settling workers’ compensation claims during the American Bar Association’s Workers’ Compensation MidWinter Conference earlier this month.
Torbert joined Albertson’s Beth Hostetler, Chronovo’s Ken Paradis and Attorney John Cattie on the “Medicare Set-Aside Insights: Unique Perspective from the Settlement Table” panel, moderated by John Barringer of Maniere & Herod. Panelists covered the latest trends in MSAs, compared set-aside legal opinions with standard MSAs and discussed the pros and cons of not submitting MSAs for approval by the Centers for Medicare and Medicaid Services.
"Non-submissions of MSAs is a growing trend especially driven by defense side parties," says Torbert. "When doing so, we strongly advise them to do so responsibly, by including professional administration to ensure Medicare will be properly informed of the use of the MSA funds after settlement."
Professional administration firms provide reporting services or tools to help patients comply with Medicare rules regarding their medical expenses, and some offer savings in the form of provider networks and pharmacy discounts to help prevent the injured party from exhausting their settlement funds. Structured settlements or annuities make defined payments over a specified time period instead of a lump-sum payment. Both services are tools to help support an MSA non-submit program and make sure all parties to a settlement are protected, in addition to making sure that the injured worker receives substantial benefits post-settlement.
“Structured settlements better ensure that the injured worker will have a consistent stream of payments that are secure and guaranteed, while professional administration of the MSA ensures that the injured worker’s medical and regulatory concerns are met,” Torbert noted.
ABA’s MidWinter Conference was held March 2 in Nashville, Tennessee.
Ametros is the industry leader in post-settlement medical administration and a trusted partner for thousands of members receiving funds from workers’ compensation and liability settlements. Founded in 2010, Ametros provides post-settlement medical management services with significant medical and pharmacy discounts along with automated payment technology and Medicare reporting tools. Headquartered just north of Boston in Wilmington, Massachusetts, Ametros may be reached at 877.275.7415 or via www.ametroscards.com
ABOUT THE AMERICAN BAR ASSOCIATION
With more than 400,000 members, the American Bar Association is one of the largest voluntary professional membership organizations in the world. As the national voice of the legal profession, the ABA works to improve the administration of justice, promotes programs that assist lawyers and judges in their work, accredits law schools, provides continuing legal education, and works to build public understanding around the world of the importance of the rule of law. For more information, please see www.americanbar.org.
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