The proposed rules define formal set-aside allocation as a document reflecting a comprehensive analysis and projection of future injury-related medical needs and associated costs. The payment allocation sheet must be included in an agreement for final compromise and settlement of a claim submitted to the commission for approval. The agreement must also include the claimant's average weekly wage, his date of birth, and age. If the insurer makes an assignment of its obligations to a third party, the settlement agreement must contain language confirming that the employer/insurer will resume its obligation for all remaining payment in the event of default by the third party. The proposal also states that in determining whether a settlement must be reviewed and approved by the Centers for Medicare and Medicaid Services, the commission must apply the Medicare thresholds set forth in the most current memoranda or regulation available on the website.
Read more at the WorkersComp Forum homepage.
February 24, 2011
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