What is a Guarantee?

[freebird]

State, Louisiana

My Attorney is asking for a Guarantee from the WC IC concerning my MSA. Anyone know what this is?
I will ask Attorney but he is gone for the week.

[hurt at work]

Welcome and im guessing but he maybe asking that they guarantee to him they do what they say as in helping you get better or treatment.Just a guess and my thoughts.

[Bad Boy Bad Boy]

Attorney is asking for a Guarantee from the WC IC concerning my MSA. It's a Guarantee, that is what ever is required of them to pay, or whatever, that there will be no problems with it later.

[1171]

he might be referring to a "hold harmless" clause that any unaddressed/unknown lein issues will be resolved without additional deductions or payments from your portion.

[freebird]

My Attorney suprised me and emailed this response about a Guarantee in dealing with a WC Medicare setaside(MSA);

A Guarantee is when a workers compensation carrier will agree to supplement an MSA should CMS determine the MSA is inadequate. That is known as a guarantee.
We will ask for a Guarantee before the MSA is submitted to CMS.

[WindyCity]

Good Luck in trying to get your IC to agree to a Guarantee. They don't want to re-submit your MSA to you let alone give you a guarantee . Did your attorney tell you what will happen to your Indemnity settlement if the IC decides not to submit a MSA proposal to CMS and keeps your medical open? Do you still have a valid settlement contract with the IC at that point?

[1171]

sounds like a settlement is being negotiated prior CMS sign off.

[freebird]

1171 Wrote:sounds like a settlement is being negotiated prior CMS sign off.

This is true except we have negotiated a settlement contingent on the MSA being properly funded. All parties involved must approve the MSA proposal built by the IC before it is sent to CMS for approval.
This was written and signed by all parties including the mediator.
We do not want WC to try and push a under funded Medicare Setaside through CMS.
We recieved a MSA proposal and it was bigtime low with obvious medical and prescription drugs left out. We ask them to redo it stating the issues.
IF CMS says the proposal is low, then we want WC to cover this part called a Guarantee.

The IC will try and push a MSA through CMS that is not sufficient. This happens all the time BUT certain laws changed in July 09 possibly holding these CMS proposals to a "higher standard".
http://www.intrustservicesonline.com/CMS...ril_09.pdf

[freebird]

WindyCity Wrote:Good Luck in trying to get your IC to agree to a Guarantee. They don't want to re-submit your MSA to you let alone give you a guarantee . Did your attorney tell you what will happen to your Indemnity settlement if the IC decides not to submit a MSA proposal to CMS and keeps your medical open? Do you still have a valid settlement contract with the IC at that point?

If the IC would have been reasonable on the first proposal, We would be at CMS waiting on there approval.
There 1st proposal was extremely low and wrong with medications left out, monthly doctors appointments left out, etc. etc. Over a32 year period, It was a ton of money.

[freebird]

WindyCity Wrote:Good Luck in trying to get your IC to agree to a Guarantee. They don't want to re-submit your MSA to you let alone give you a guarantee .

Did your attorney tell you what will happen to your Indemnity settlement if the IC decides not to submit a MSA proposal to CMS and keeps your medical open? Do you still have a valid settlement contract with the IC at that point?

We signed a agreement contingent upon the MSA being approved by all parties. The agreement states the IC will continue to pay me weekly and cover my all my IW expenses(Doctor visits, pres. drugs etc.) until the agreement is fulfilled.

I have no idea what will happen with my Indemnity settlement if they decide not to submit a MSA proposal and keep the medical open.

As long as they continue to pay my weekly benefit, I am cool and they have to without the current written agreement being broken. How long is this agreement binding? I have no idea.

I did not push for a settlement but I am not against it neither. I have compromised and compromised etc. I have hardened my Heart and I am willing to plant my feet in the sand and fight this out.

It makes no sense why they would not want to settle UNLESS the proposed MSA is to High money wise for them.

The MSA is sorta negotiable but CMS does have the final say.

Generally if there is a error in the MSA found by CMS, It is in the favor of the IW.

Remember, Medicare does not want to pay a penny for my work related injury. Why would Medicare intentionally allow a IC to "low ball" a MSA?