LifeWallet’s Proprietary Data System is Instrumental in Class Certification Against USAA Property and Casualty Insurance Company

CORAL GABLES, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- MSP Recovery, Inc. d/b/a LifeWallet (NASDAQ: LIFW) ("LifeWallet," or the "Company"), a Medicare, Medicaid, commercial, and Secondary Payer¹ reimbursement recovery and technology leader, today announced the Eleventh Judicial Circuit Court of Florida entered an order memorializing its class certification² in a case against USAA Casualty Insurance Company and USAA General Indemnity Company (collectively “USAA”), utilizing LifeWallet’s proprietary data analytics system, extensive knowledge of the Medicare Secondary Payer Act (“MSP Act”), and experience in healthcare reimbursement recovery. The case directly benefits plaintiffs, which include: (1) LifeWallet’s clients who assigned their claim rights to MSP Recovery entities and any future assignor clients; as well as (2) all Medicare Advantage Organizations (“MAO”), Medicaid Managed Care Organizations (“MCO”), first-tier and downstream at risk entities, and their assignees, that provided services on an at-risk basis in the State of Florida to beneficiaries who were covered by USAA under a Florida No-Fault Benefits policy, for which USAA under a no-fault/personal injury protection(“PIP”) insurance policy had primary coverage. The Court also entered an order approving class notice, which was distributed to class members beginning June 10, 2024.

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