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RIMS CELEBRATES PRESIDENTIAL APPROVAL OF THE SMART ACT

Legislation Poised to Streamline Reporting Process for Medicare Settlements

(NEW YORK) January 11, 2013 – RIMS, the Risk Management Society™, External Affairs Committee celebrated the authorization of The SMART Act, a bipartisan legislation that streamlines the reporting process for insurers, self-insurers and nongroup health insurers, who are secondary payers, where there is a settlement with a Medicare beneficiary.

“The SMART Act was a legislative priority for RIMS and, its approval, is a major victory for the entire risk management community,” said Carolyn Snow RIMS Board Liaison to the Society’s Government Affairs Committee. “The implications of this important piece of legislation are widespread and will be instrumental in replenishing the Medicare Trust Fund and avoiding the potentially high fines associated with these settlement processes.”

The SMART Act was attached to HR 1845 which provides Medicare coverage for the in-home administration of intravenous immune globulin.  It was approved by the United States House of Representatives and the Senate in December 2012.

The legislation can be read here: http://tinyurl.com/c4bsumo.