Section 1940 of the Social Security Act requires all States to implement a system for verifying the assets of aged, blind, or disabled applicants for and recipients of Medicaid.
HMS offers States the only fully-compliant asset verification solution that meets all CMS requirements, and more:
- Rapid implementation. With our partner, Informatix, we have over 7,000 financial institutions, including banks, credit unions, and securities firms, in our network. Our network spans 19 states and we continually recruit new FIs. Because our network is in place, we can process your entire aged, blind and disabled population from Day One.
- Proven methodology. Unlike any other company, our solution is completely electronic—no paper, and no faxes. We can handle any volume of requests to financial institutions.
- Easy access to results. One of CMS’s requirements is to put reporting in the hand of the state. We make results available 24/7 via the web, freeing your IT staff from the burden of running reports.
- Superior results. We receive a response rate of 98%, with most responses back within 24 hours.
As Medicaid’s largest recovery partner, we offer unique advantages to Medicaid agencies seeking an asset management solution. Using paid claims data we have in house for 37 states, we can calculate amounts to be recovered for periods of ineligibility, generate Statements Of Aid Paid, and pursue recoveries. And using our national eligibility database, we can identify other health insurance available to Medicaid recipients—all with a single transaction.
Every year, HMS recovers over $1 billion for our clients and saves them billions of dollars more.
