Should an injured party die before the Medicare Set-aside is completely exhausted, what happens to the remaining money?
A56. Once CMS and the contractor responsible for monitoring the injured party’s case ensure that all of the injured party’s claims have been paid, then any amount left over in the Medicare Set-aside may be disbursed pursuant the terms the Medicare Set-aside funding mechanism itself e.g. bank account, or in the case of a structured Medicare Set-aside settlement annuity agreement and if none then according to state law, once Medicare’s interests have been considered. This may involve holding the Medicare Set-aside open for some period after the date of death, as providers, physicians, and other suppliers are permitted to submit their initial bill to Medicare for a period ranging from 15-27 months after the date of service.
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