Financial Reporting for MSP Write-off/Closed

60.12 – Financial Reporting for MSP Write-off/Closed (Rev. 12438; Issued: 01-04-24; Effective: 02-06-24; Implementation: 02-06-24) The following reporting is required for write-off debts closed by MSP Contractors: a) Associated interest for Write-off/Closed MSP Contractors shall use the amount of interest currently carried in HIGLAS. b) On Form CMS-M751 and MC751, the amount that CMS has approved for Write-off/Closed, including principal and interest, is recorded on line 6a (M751) and line 4d (MC751), bad debt. The CMS written approval for Write-off/Closed is sufficient support for the subsequent write-off, including any increase in the interest, as long as the principal remains the same. c) The MSP Contractor shall document in the remarks section of Form CMS-M751 and MC751 each quarter the amounts (principal and interest) that were written off as closed as a result of implementation of these instructions.