Finally the 2nd MSA proposal is revealed

[freebird]

Bummer Knees Wrote:I am findng this thread of great help, thank you!

The insurance company tried a setaside as part of my settlement that I voted down, and I do not believe for a minute CMS would have approved the proposed setaside.

You done right here. DO NOT allow the IC to send a MSA proposal to CMS that you are not happy with. It is always possible that a low figure could get by CMS causing you money due to having to use Medicare prematurely. This will cause copays. donut holes etc. to come out of your pocket.

Medicare has laws that have many IC's thinking twice about "lying" concerning your projected future medical needs.

http://www.jjcelderlaw.com/April2009WCMSARXMemo.pdf

[Still in Limbo]

Freebird, I Hope You can get this Settled and Behind You Soon!! I Understand and Agree Totally that being Sure You have enough Funds for Your Care is Very Important, and I Hope You can Make the 100 Mark also!! The Youngest Male to Die of Natural Causes on My Father's Side was My Great Uncle Jim at 87!! So Hopefully I have a Few Left!!

[tpm]

Very informative thread. Thank you
I guess these decisions will cross my path at some point.

[Triksey]

Still in Limbo Wrote:My Attorney and I have Spoken in Pretty Good Length about MSA's, and the Money put in the Set-Aside has to be Considered as a Part of Your Total Settlement, and the Balance of any MSA Monies go to Your Beneficiaries should You Pass. Just Think for a Minute, Your Attorney is going to take 20% of Your MSA Monies as a Part of Your Agreement, and it's a Total MSA of 300K, what if You Die Next Year? That would Mean Your Attorney was Paid for Monies You or Your Family will never See, and You Received Less in Your Monetary Portion due to the Percentage the Attorney Took!! It's not a Matter of Cake and Ice Cream, it's a Matter of Fairness and Food on the Table!! You May, My Opinion Only get a Second Opinion as I know My MSA will be as Bad Boy Said in an Interest Bearing Account, and I will have Total Control of the Payments Due for My Meds. and Dr.'s. At the End of the Year I will have to Account for every Penny, and if the Set-Aside turns Out to be More than Needed, because at the End of the Year the Excess Monies Stays in the Account, You can Here in Pa. Petition the Courts to Lessen the Set-Aside Amount, and Withdrawal the Monies in a Lump Sum. But You can Only take the Excess every 5 Years!! You May want to Check a Bit Further, that Set-Aside Money is a Part of Your Settlement Your Attorney gets Paid on, it;s Your Money, not to go Back to the Ins. Co. should You Pass!! Good Luck, and I Hope You can have it set Up that Way in Your State!!

Still in Limbo...I think you are right. Here in MI. the same rules apply except ......The lawyer only receives monies from the indeminity portion of your settlement, NOT your MSA. The amount is 20%. I know of an attorney who "stole" money form the worker out of the setaside account, and the attorney of course was caught by Medicare and is under the watchful eye of medicare's fraud department!