WASHINGTON – President Barack Obama has signed into law the Medicare IVIG Access and Strengthening Medicare and Repaying Taxpayers (SMART) Act, which provides several improvements in the efficiency of the Medicare Secondary Payer (MSP) system. Tom Litjen, PCI’s vice president of federal government relations made the following comment:

“Today’s bill signing is a major victory for beneficiaries and taxpayers, as well as for the property/casualty insurance industry. This legislation will bring much needed clarification in the Medicare Secondary Payer system reporting requirements and will improve the efficiency of the system by eliminating the costly delays in settling claims and providing funds to the beneficiaries in a more timely manner,” said Litjen. “A variety of stakeholders, including businesses, insurers, and third-party administrators have worked together over the past five years to bring about these changes. Together we were able to demonstrate the need for these improvements to the MSP system. PCI applauds Congress and President Obama for making these upgrades in the efficiency of the MSP system a priority.”

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $190 billion in annual premium, 40 percent of the nation’s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 38 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.

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