Medicare can be a complicated process for both clients and their attorneys. If not handled properly, negligence traps will abound for all parties. If you are representing a Medicare beneficiary that has won a settlement, you need to ensure that your clients’ Medicare benefits are preserved. Preserving their benefits is a process that will require a thorough understanding of the laws that govern Medicare.
What is Medicare Set-Aside and When is it Necessary?
Medicare is a federal health insurance program that is available to individuals without regard to their financial situation. Individuals who are 65 years or older, have certain medical conditions or have a permanent qualifying disability are entitled to these benefits.
Medicare MSA is ideal for clients with a settled workers’ compensation or third party liability claim who may need to preserve their future Medicare benefits. However, they must be a current Medicare beneficiary or a Medicare expected beneficiary within 30 months of their settlement.
An MSA allows injury victims to preserve their Medicare benefits by setting aside a portion of their settlement money into a Medicare-approved account to pay for future Medicare covered services. Once these account funds are exhausted, the individual is entitled to full Medicare coverage without regard to their remaining settlement money.
What is a Medicare Set-Aside Allocation?
An MSA allocation is an in-depth review and accurate projection of the lifetime future medical costs associated with an injury that is anticipated to be covered by Medicare. Those projected costs are then “set side” from the “allocation” for future medical in an effort to protect Medicare’s interest.
Services We Offer Trial Attorneys
We have been helping trial attorneys and their clients with their MSA and settlement planning needs for over 25 years. We assist trial attorneys across the nation with the following MSA services:
- Medicare Set Aside Allocations
- MSA Professional Administration
- MSA Analysis
- Liability Case Evaluation
- Non-Medicare Expense Evaluations
- Future Medical Projections
- Case Review
- MSA Submissions
- Economic Evaluation
- Mediation Attendance
- Structured Settlements
- Documentation Prep
- CLE Training
Partner With a Premier Provider
Partnering with Synergy Settlement Solutions makes the entire MSA process and compliance with Medicare Secondary Payer (MSP) so much more efficient and inexpensive. Involving Synergy early in the process is critical to your client’s success. Let us help you streamline the MSA process and save your clients thousands of dollars on individual claims.
For more information or to schedule a consultation, please submit our contact request form or call (877) 242-0022.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.