Medicare Collection Agency Sets Sights on Asbestos Trusts

A prominent Medicare services collection agency is taking aim at an estimated 60 viable asbestos trust funds, citing a failure to divulge settlement payments and deliver reimbursement to providers for health care services. Asbestos trusts are designed to compensate victims of diseases caused by exposure to asbestos, most notably malignant mesothelioma, a rare cancer with no definitive cure. MSP Recovery LLC, a leading Medicare/Medicaid recovery specialist, filed the first lawsuit last week against the J.T. Thorpe Settlement Trust, according to a report in The Wall Street Journal. J.T. Thorpe Inc. is a former industrial equipment manufacturer that filed for bankruptcy in 2002. The suit was filed in U.S. Bankruptcy Court in Los Angeles. Attorney John Ruiz, chief executive officer of MSP Recovery, told The Mesothelioma Center at Asbestos.com that he expects to file suit against five more trusts by the end of the month, and all 60 asbestos trusts within the next few months. “When these companies don’t pay, it’s costing the taxpayers money,” Ruiz said. “We have the right to collect.” Ruiz believes the lack of transparency regarding the trusts has unfairly shifted the burden of treating patients to the general public through Medicare. The lawsuit claims the lack of reporting on payouts causes “staggering financial losses” for Medicare Advantage programs, health care payers and physician groups, which are not compensated properly. Trust Offici...
Source: Asbestos and Mesothelioma News - Category: Environmental Health Authors: Source Type: news