Friday, December 24, 2010

Compromise and Release - with a Medicare Set Aside Agreement

 We just settled a case with a $38,700 MSA.  The employer's insurance carrier wanted to "seed" the MSA with about $22,000, which would then grow to the required MSA amount over the course of years.  But what if the injured worker's industrial injury medical needs required use of most or all of the MSA funds.  The "seed" money could get used up and Medicare could be put in a position to refuse to treat since the MSA had not been exhausted. 

Solution:  have the carrier fund 100% of the MSA or have a clause written in the settlement document that would require the carrier to kick-in cash in the event the money in the MSA was not sufficient, prior to maturation of the annuity or other investment vehicle had not appreciated to meet the MSA number.

Consumer Lawyers focusing on personal injuries, bankruptcy and business disputes.
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