Spending a little out-of-pocket on claims can mean big savings in the long-run.
Have you heard of the “$1,000 option?” It is your right under Missouri law to pay up to $1,000 of medical costs on report-only workers compensation claims. You’re probably thinking, “thanks for the right to spend money.” It’s important to understand, though, that paying for report-only claims $1,000 or less could improve your loss experience, which can help you save money on workers compensation premium in the long run.
Although the $1,000 option is available with all insurance companies, MEM sweetens the deal with medical discounts and a proactive approach.
“MEM allows policyholders access to our medical network and the significant discounts on medical services that the network provides—something that many other carriers don’t do,” said Ted Jeffries, MEM Assistant Director of Medical and Disability Management. “Many companies simply take the claim report, leaving the policyholder to pay 100 percent of the bills with no discount or negotiate the rates themselves.”
In short, MEM policyholders save time and money in the reporting process, and protect their e-mods by paying certain claims themselves.
Reporting $1,000 Option Claims
If you decide to take advantage of the $1,000 option, first make sure your claims are report only. Report-only claims are usually minor in severity, may or may not require medical treatment, do not require the employee to be gone from work for more than three business days and are not questionable in nature. Second, make sure to report the claim to MEM.
To start saving, follow these simple steps:
1. Forward related medical bills to CorVel noting “$1,000 option” and the claim number on the bill. Mail to CorVel, P.O. Box 12250, Overland Park, KS 66282-2250. If the medical provider will not provide the bill to you, the bill may be forwarded directly to MEM at P.O. Box 1810, Columbia, MO, 65205.
2. CorVel will review the bill and make any applicable reductions.
3. CorVel will return the bill to you with an attached Explanation of Review (EOR) that outlines the bill’s submitted amount, reduction amount and amount to pay.
4. Submit the revised amount to pay directly to the medical provider.
For more information on how the $1,000 option can work for you, contact the Claims Service Center at claims@mem-ins.com or 1.800.442.0593.