Medicare set-aside - Printable Version
+- Workers' Compensation Discussion Forums (http://www.workerscompensation.com/forums/general)
+-- Forum: Category (/forumdisplay.php?fid=3)
+--- Forum: Injured Worker Forum (/forumdisplay.php?fid=4)
+--- Thread: Medicare set-aside (/showthread.php?tid=10704)
Medicare set-aside - Sithie - 07-18-2010 08:11 PM
Just got mine have no idea how it works except must use medicare treatment guidelines (there are none for RSD). I want to know how to find this info, if I could keep interest off the money, etc. Anyone with any help?
RE: Medicare set-aside - 1171 - 07-18-2010 11:06 PM
there is a lot of info on the Medicare website
RE: Medicare set-aside - Sithie - 07-19-2010 02:25 AM
You know, I knew of all people you would be the one to help me first with accurate info. Thanks 1171, for being there. Been along time coming to get here huh? Hope all is well wit you and yours!
RE: Medicare set-aside - Bad Boy Bad Boy - 07-19-2010 10:53 AM
Sithie, I do think what your asking as for medicare treatment guidelines is all in the coding the medical offices use to bill statements with.
Such as this;
CPT Code 64510
CPT Code 64520
CPT Code 20551
CPT Code 20552
96365 - first hour
96366- each additional hour
CPT Code 99245
CPT Code 99213
337.21 - Reflex sympathetic dystrophy of the upper limb
337.22 - Reflex sympathetic dystrophy of the lower limb
But, as for what your saying as Guidelines, I don't think there is a set guidelines used. As your paying for treatment, through a fund. Then if such fund exhausts it's self before the year is up, then Medicare takes over till the fund in replenished again.
RE: Medicare set-aside - Sithie - 07-23-2010 05:04 PM
Do I have to set up the account before monies come in to have somewhere to send it? Why can I not keep the interest I cause it to make? Will they give me some sort of instructions when it comes through? I need to know what my responsibilities are.
RE: Medicare set-aside - Bad Boy Bad Boy - 07-23-2010 05:41 PM
Sithie, if I remember correctly, the are a few ways of doing this. And your attorney like mine, has plenty of information available to help you with this. But, 1 way is, you can have I think it's called an administrator handle the account for you. They pay the medical bills and handle the account plus all information needed to be sent to CMS at end of the year and such. Takes the burden off you. Or you could set up a Interest bearing checking account. In fact, I was just at the bank the other day asking about something like setting it up in advance with a set of checks, that are duplicated for showing proof of being wrote. They said it can be done, and set-up for a $25.00 applied into the account to get it started now. Then the checks can be direct deposit when ready.
The administrator is paid out of the account also. If I had a medical set-aside, I think I would go that way myself, then be done with it, and not have to worry about it all later. Just a thought.
You can also ask your attorney to send you set-up information, as I know they have that.
CMS permits MSA's to be administered under several different forms. The most common of these are Medicare Set-Aside Trusts (MSAT's), Medicare Set-Aside Custodial Accounts (MSAC's) and self-administered Medicare Set-Aside accounts (SMSA's). MSAT's and MSAC's are typically administered by professional fiduciaries. SMSA's are usually administered by the claimant, a spouse, family member or friend.
RE: Medicare set-aside - Sithie - 07-23-2010 05:57 PM
BB as always, you are awesome! I don't really want an administrator as I want the 3 day ketamine infusion, and am afraid they would deny it. I wonder if I spend the money on that and I run out before year end, if medicare would pay for scripts if I still need them?
They told me it had to be an interest bearing account, but I had to put the interest back in the account. I wanted the first year to do the 6month cd's, in order to earn more interest, but have been told I can't. (The first year they deposit 2 years worth of monies, and I was trying to make more money.)
BTW did you all know settlements are now dependent on CMA approval, which can take up to 6 months?
RE: Medicare set-aside - Bad Boy Bad Boy - 07-23-2010 06:13 PM
Here is some other info.
Lots of great information here;
RE: Medicare set-aside - 1171 - 07-23-2010 08:34 PM
I believe if the set aside money is used for other then medicare approved treatment those costs will be deducted from any future medicare you may need.
RE: Medicare set-aside - Bad Boy Bad Boy - 07-24-2010 10:06 AM
Sithie, don't forget the settlement paper write up needed for Social Security to show it's paid out over the years...