My 1st MSA proposal was around $130k. We rejected it and ask for a more realistic figure. This was over 8 months ago.
Finally the 2nd MSA proposal is revealed; It is $305k.
What a difference huh. I should get a copy of the 2nd MSA proposal from my Attorney by the 1st of next week.
The IC is sitting on this proposal per there Attorney's. They feel it is to much? I mean should this really be negotiable? The IC's hand picked vendor came up with these figures.
Anyway, I am no closer to settling than I was 8 months ago. If they finally accept this figure it still has to go to Medicare for approval.
Carefully overlook your MSA proposal before you allow it to proceed to Medicare for approval. As seen from the figure difference above, a IW could cost himself a lot of money with a low MSA. Donut holes, deductibles etc.
just curious freebird what is an msa proposal??
MSA = Medicare set aside.
IMO, Medicare will not accept a low ball amount. They will negotiate enough $$ to cover their predicted cost.
Lilly
Lilly Wrote:MSA = Medicare set aside.
IMO, Medicare will not accept a low ball amount. They will negotiate enough $$ to cover their predicted cost.Lilly
While this should be true, the reality is Medicare does not screen every MSA proposal with a "fine tooth comb". Low MSA's get by Medicare. This is why it is important for the IW to make sure that the proposed MSA proposal is sufficient before it is sent to Medicare for there stamp of approval.
Hopefully Medicare will catch the deficiences but why solely depend on them for your future? It was easy to se where the IC left out many things in a effort to try and slip it passed Medicare but we saw the errors and it wound up being over $170,000 dollars which is a lot.
Could you also explain to the others on how the dollar amount affects the high dollar end of the settlement also. Meaning settlement Vs MSA amounts.
yeah bbbb thats what i was wondering too
Hello everyone. Freebird, is the I/C responsible for sending me to an dr. to determined future medical treatment. Also, the I/C is denie'n my neurologist's referral to an PM dr. I have mediation next week and trial next mth. They want to settle before trial, and I don't want to be stuck by the possible slimeball tactic by the I/c co. What could I do to get an estimate account of what I need for future treatment? Any advice will be appreciated. Thanks. I will update my profile to show the readings from last MRI and EMG/NCS.
Bad Boy Bad Boy Wrote:Could you also explain to the others on how the dollar amount affects the high dollar end of the settlement also. Meaning settlement Vs MSA amounts.
If I understand your question correctly hear it goes;
My settlement has 2 parts. The Idemnity part(cash settlement) and the MSA.
In Louisiana, A Attorney can recieve 20% of the total settlement. If your cash settlement is $200K and you have a MSA of $400k that is a total of $600k. The Attorney would recieve $120k of your front end $200k settlement leaving the IW with $80K AND A $400k MSA. Your Attorney can get 20% of your MSA off the front end cash Idemnity.
Understand your contract with your Attorney.
izell Wrote:Hello everyone. Freebird, is the I/C responsible for sending me to an dr. to determined future medical treatment. Also, the I/C is denie'n my neurologist's referral to an PM dr. I have mediation next week and trial next mth. They want to settle before trial, and I don't want to be stuck by the possible slimeball tactic by the I/c co. What could I do to get an estimate account of what I need for future treatment? Any advice will be appreciated. Thanks. I will update my profile to show the readings from last MRI and EMG/NCS.
Your future medical would be somewhat based on your last 2-3 years of medical records. You must have a Doctor who says you need treatment in the future. Obviously, The IME seems to disagree causing you issues.
You need to sit with your Attorney to get to the bottom of this because I do not know your needs but your Attorney should.
Good Luck.
Well that is a good way of explaining one part of it.
What I was saying, or meaning, was, if say your settlement was first an offer of lets just say $400,000.00, without the MSA, then the MSA was proposed lets say at $80,000.00. Then rejected. Then the MSA went to lets say $120,000.00, how did that change your settlement amount, or maybe it didn't.