MAXIMUS (NYSE:MMS), a leading provider of government services worldwide, announced today that its Federal Services subsidiary has been awarded a one-year contract by the Centers for Medicare & Medicaid Services (CMS) to continue to serve as an independent review entity for reconsiderations of beneficiary appeals for the Medicare Part D program.
The Company has performed this work since the Medicare prescription drug program was implemented in January 2006. The one-year contract is valued at approximately $14.3 million and includes a nine-month option period, which brings the total contract value to $25.0 million if this option is exercised.
“MAXIMUS Federal has been the sole provider of Part D appeal reconsiderations since the inception of the Medicare Part D program. This latest contract award from CMS underscores our role as a leading QIC and allows us the opportunity to process Medicare Part D reconsiderations across the entire country.”
As the Part D Qualified Independent Contractor (QIC), MAXIMUS Federal acts as the independent review entity responsible for conducting reconsiderations of adverse coverage determinations and redeterminations made by Part D plans in the Medicare Prescription Drug Program. Under the current contract, MAXIMUS Federal also conducts reconsiderations of adverse determinations related to prior creditable prescription drug coverage and imposition of a late enrollment penalty under the Medicare Part D program. In addition to Medicare Part D, MAXIMUS Federal also performs reconsiderations nationally as Part A and Part C QICs.