Settlement offer - Printable Version
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Settlement offer - Gatekeeper - 05-10-2010 04:44 PM
Hi everyone, I am in michigan and my W/C case was disputed back in Feb. 09 since then I have been approved for SSDI in Feb. of this year. My lawyer called me today and said the IC wants to settle my case, made an offer and is awaiting my answer. I know that I have to tell SSDI is I settle but what is that going to do to my monthly checks? Will it only affect 1 month of my SSDI or will it affect the whole year? Blue cross has a lein on my case and my lawyer is contacting them to see what the total amount is so we can figure what I will get after all debts are paid off. Also they don't want to pay for any future medical, will blue cross start to pay or am I screwing myself if I accept this offer? Since Jan. this year my wifes insurance at work switched all employees to Aetna and they have been paying for my office visits and PT and a few tests. Just wondering if anyone has had this delema before. Thanks as always for your wisdom on this stuff!!
RE: Settlement offer - 1171 - 05-10-2010 06:05 PM
no. generally the settlement will be prorated over the entire ssdi period and offset the monthly payment but it depends on exactly how the settlement is worded.
if medicare is an issue they will want a set aside trust acct.
RE: Settlement offer - Gatekeeper - 05-10-2010 06:26 PM
1171 Wrote:no. generally the settlement will be prorated over the entire ssdi period and offset the monthly payment but it depends on exactly how the settlement is worded.Does'nt it have to say something like Lifetime lump some payout. My SSDI will be reviewed in 3 years based on my progress or lack thereof, what if I never go back to work which looks more like a reality how would that breakdown 1171.
RE: Settlement offer - Bad Boy Bad Boy - 05-11-2010 09:47 AM
Your attorney has the wording in the settlement.
EXAMPLE) $200,000.00 is paid for the years 2009 to 2050 a total of say 41 years. That breaks down the monthly/ yearly amount.
But, when you settle, you need to in form SSDI as soon as possible, not 3 years later.
If it is said you need future medical, then yes a Medical Setaside Fund needs to happen, or they must give open medical. One needs to apply, and your attorney must ensure this.
RE: Settlement offer - Gatekeeper - 05-11-2010 01:26 PM
Thank you BBBB, they dont want to pay for medical, my lawyer says that generally Blue cross will settle for .30-.50 cents on the dollar with no more coverage on my back injury. My sister works for a company that approves insurance payments to doctors and she says if I have the proper wording in the settlement I will have coverage from Aetna (my insurance company) something like settlement covers all incurred charges to this point. Her boss used to deal with this particular issue where she used to work so I will run this all by me lawyer and make sure its all above board before I agree to anything. I am seeing my lawyer on Friday so I will let you know what goes down in a private message if you don't mind.
RE: Settlement offer - Bad Boy Bad Boy - 05-11-2010 01:58 PM
Then someone needs to say (BEWARE).... As if you settle your case and any medical treatment is needed for any work injury, medicare can refuse payment, and so can any Insurance Carrier.
Now your attorney does know all this. Your attorney needs to get it straight before you settle.
If you have Medicare, they will force you to Exhaust all settlement money to pay medical for a work injury, before they will pay anything.
RE: Settlement offer - Gatekeeper - 05-11-2010 06:09 PM
Thank you and I will be sure of all details before agreeing to anything. I dont have medicare. My wife works for UPS and we have Aetna Insurance. I will sit down with my lawyer Friday and keep u posted. Thanks
RE: Settlement offer - endofmyrope - 05-12-2010 09:58 PM
Hello fellow Michigander. I recently settled my case after it was disputed in August of 2008. The wording in my paperwork spread the settlement amount out over my remaining life expectancy and was divided by that number of months to come up with a monthly amount. This amount coordinates with SSDI payments for your lifetime. I do not believe that a settlement could be worded to avoid the offset to SSDI. Even though I received a settlement, known as a compromise and release of my claim, the WC carrier never did accept responsibility for the injury.
Medicare's interest should be taken into account if you will be eligible for it in a short time. I believe it is 24 months after initial SSDI approval. The way I understand things in MI it is rare for future medical to be included in a settlement unless there is a catastrophic injury. It is possible that your current insurance could refuse to pay for care once you settle your case. I would not take anyone's word for continued coverage unless it was in writing from the company insuring you. If the Aetna coverage replaced the BCBS they may place a lien on any settlement amount also.
On one hand if you settle you are out from under WC's thumb, a BIG relief!!. On the other, what do you gain if you lose insurance coverage for your injury and have to repay much of the settlement to SSDI and BCBS?
My attorney has an excellent reputation, is known as a "Super Lawyer" and did not bring up some of the above issues unless specifically asked. I second that beware from BBBB. 1171 and BBBB are right on the money with their comments. Your attorney should be informing you of all the ramifications. Best of luck to you.
RE: Settlement offer - Regrets - 05-12-2010 11:45 PM
I'm almost 6 Years into My Case, and would Love a Settlement Tomorrow, but Bad Boy and 1171, along with endofmyrope is giving You Valuable Info. some Pay a Lot of Money to Receive. I am on SSDI with Medicare and I Have Only 2 Options"
1. Close the Monetary Portion of My Claim and Keep Medical Open with the Ins. Carrier, (Which could be a Nightmare as They can Send You every 6 Mos. for an IME, and if They can get just One Dr. and Judge to Agree You don't need ongoing Care, You Lose it)
2. Close the Monetary Portion and have a Medicare Set-Aside in Place by the Ins.Co.and the Amount Approved By Medicare. The Much Better way to go.
So Please take Some Time and have Your Attorney Explain a bit More to You, You can also Mention the "Uticka Mohawk " Language as a Guide as to how to Save as Much of Your SSDI Payments Monthly as You can. Empower Yourself with the Knowledge of Your States w/c Laws by Researching, and there will be Much Less Confusion, and You will Feel Much Better when You Speak with Your Attorney. Best of Luck.
RE: Settlement offer - Gatekeeper - 05-13-2010 08:06 AM
endofmyrope Wrote:Hello fellow Michigander. I recently settled my case after it was disputed in August of 2008. The wording in my paperwork spread the settlement amount out over my remaining life expectancy and was divided by that number of months to come up with a monthly amount. This amount coordinates with SSDI payments for your lifetime. I do not believe that a settlement could be worded to avoid the offset to SSDI. Even though I received a settlement, known as a compromise and release of my claim, the WC carrier never did accept responsibility for the injury.I have given my lawyer the proper wording from a website that I got from someones thread regarding SSDI and my settlement so they spread it over my lifetime so I am ok with that. I recently filed bankruptcy and I believe my lawyer is going to include the lein from blue cross in it, don't know the details yet but it may be a loophole to avoid repayment to BCBS for past surgery. If I need another surgery I will wait for Obamacare to kick in cuz pre existing med proplems r acceptable under the plan or I will use some of the settlement money to pay for it. Like my lawyer said we are on step 1 and things will unfold in the next few weeks so I am taking it step by step so we dont make a mistake. hopefully everything works out! And yes I am so sick of being under the microscope all the time, I just want it over!! Thanks all for your input you guys r great. God Bless u all