paraplegic (should I take a future medical settlement)

[jones111]

My name is Jason and I live in st. joesph mo. for the last4 years. I was hurt on the job winch left me paralezed from the chest down 8 years ago and a have a date for a final hearing. I guess my question is if anyone knows anything about future medical cost. Should I take the money? Should I make the insursance company take care of the medical costs for the rest of my life. really confused and need help!!

[1171]

Have you priced medical insurance for yourself on the open market?
any settlement should cover much of the cost for such coverage.

if you do a buyout medicare will require the Medical $$ be put in a trust account to pay for the future medical for the comp injury
more info here
http://www.cms.hhs.gov/WorkersCompAgencyServices/

you should not consider negotiating a total buyout of your claim without discussing it with an atty specializing in workers compensation law.
if you are represented, have you discussed having a life care plan done?

[jones111]

I'm sorry from missori

[1171]

That's alright.
I visited Iowa once.

[jones111]

1171 Wrote:Have you priced medical insurance for yourself on the open market?
any settlement should cover much of the cost for such coverage.

if you do a buyout medicare will require the Medical $$ be put in a trust account to pay for the future medical for the comp injury
more info here
http://www.cms.hhs.gov/WorkersCompAgencyServices/

you should not consider negotiating a total buyout of your claim without discussing it with an atty specializing in workers compensation law.
if you are represented, have you discussed having a life care plan done?

i do have a lawyer and I knew about the MSA winch they will put money into but there is another side that ithink is called non-medicare set side that covers medical cost that medicare won't cover. They offered me this plan were they give me 100,000 up front and the rest goes into some account that starts paying me so m uch money every year. the problem with thats is something goes wroung medically speaking I would half to wait 10 yrs before I had enough money. they did a future medical cost for me which came too 1.6 million but the insurance comp. only wants to pay me what 600,000. Now I could take that and build interest off it just like work comp. will and not deal with them but take the risk of not having enough. or is that to risky and should I keep my medical open? have you ever heard of work comp. trying to come back and settle after the medical is left open?

[1171]

you are probably referring to a structured settlement whereby the carrier/employer purchases an annuity.
yes I have heard of carriers settling open medical.
if your future medical needs are very unpredictable and could vary widely in cost your most secure option is to leave the medical open and as the responsibility of the carrier.

[jones111]

1171 Wrote:you are probably referring to a structured settlement whereby the carrier/employer purchases an annuity.
yes I have heard of carriers settling open medical.
if your future medical needs are very unpredictable and could vary widely in cost your most secure option is to leave the medical open and as the responsibility of the carrier.

The only problem with leaving it open is the work comp. is hard to work with as anyone that who has been hurt on the job knows. Do you know any paraplegic who has settle there medical or any websites that could help?

[1171]

for missouri work comp information
http://www.dolir.missouri.gov/wc/

for sample lifecare plan
http://www.lifecarewriter.com/sample.pdf