CMS Revises Implementation Timeline for Reporting of Liability Insurance TPOC Settlements, Judgments, Awards, or Other Payments
Roy Franco
June 26, 2012

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.