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Business Insurance: Insurers could face stiff MSP penalties

Posted on March 3, 2020 by Tower MSA

Business Insurance’s Angela Childers examined CMS’s proposed rules for Section 111 Mandatory Insurer Reporting penalties in this Feb. 26 article.  She quoted Tower’s Chief Compliance Officer Dan Anders on the severity of the possible $1,000 per-day-per-claim penalty for not reporting MSP data or not reporting it with sufficient accuracy. You don’t want to face a $365,000 or more penalty. See Dan’s post for proposal details and contact him at Daniel.anders@towermsa.com for direction on how to submit comments and prepare for the impending penalties.