More Scrutiny Being Placed on Administration Of MSA Funds

A class action suit that was recently filed in the Northern District Court of Alabama and was thereafter withdrawn voluntarily highlights post-settlement scrutiny of the administration of MSA funds.  In the Complaint filed on behalf of Joshua Sharp and similarly situated individuals, it was alleged that a post-settlement administration company, Ametros Financial Corp., advertised various savings to members for provider visits and prescription medications.  It was further alleged that that these discounts were not passed on to him and other individuals which ultimately resulted in the premature exhaustion of these accounts.

Citing two provisions on the vendor website, Plaintiff contended that the discounts obtained were far less than those advertised.  He further alleged that when he tried to seek coverage to pay for his medical treatment after depletion of these funds, Medicare refused to pay for this treatment.

As noted above, the Complaint has been voluntarily withdrawn.  It is important to understand how MSA funds are managed and paid for from the account.  As more and more workers’ compensation and liability cases are utilizing professional administration options, plaintiff’s/claimant’s will continue to scrutinize how funds are being spent and how this administration could impact them in the future.

Since 2004 Bridge Pointe, has served as an advocate and fiduciary for injured workers, allaying concerns in the management of MSA and MCA funds and providing guidance to all settling parties.

For information regarding Bridge Pointe’s post settlement administration solutions please contact us.