The average Medicare set-aside recommended by the Centers for Medicare and Medicaid’s Workers’ Compensation Review Contractor increased nearly 6% in the most recent fiscal year.
The average set-aside recommendation in the fiscal year that ended in June was $86,452.67, up 5.98% compared with the $81,571.75 average set-aside in the 2022 fiscal year.
The set-aside recommendations included an average $66,527.86 for medical treatment, up from $60,795.30, and an average $19,924.81 for prescription drugs, down from $20,776.46.
The average set-aside recommendation for the 15,743 claims reviewed in fiscal year 2023 was 21.95% higher than the average proposed set-aside of $70,887.33.
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.