On June 20, 2012, the CMS issued an alert with a new schedule for reporting of liability TPOC dates and amounts pursuant to Section 111. The new schedule is as follows:
|Total TPOC Amount||TPOC Date On or After||Section 111 Reporting Required in the Quarter Beginning|
|TPOCs over $100,000||October 1, 2011||January 1, 2012|
|TPOCs over $50,000||April 1, 2012||July 1, 2012|
|TPOCs over $25,000||July 1, 2012||October 1, 2012|
|TPOCs over $5,000||October 1, 2012||January 1, 2013|
|TPOCs over $2,000||October 1, 2013||January 1, 2014|
|TPOCs over $300||October 1, 2014||January 1, 2015|
Note that on and after Sunday of this week (July 1), all settlements, judgments and awards with a TPOC amount of over $25,000 must be reported.
Franco Signor is ready to assist your company in meeting these new TPOC reporting thresholds. Please contact us for more information.