Medicare Set Aside question

[monster1963]

Lucky, I was talking about my school loans. They can be written off as I am totally disabled but my doc won't do the paperwork. Until those loans are written off I am afraid putting those funds in an account of any kind because I am afraid they will attach it.

Sorry, didn't mean to confuse things and you are quite helpful, thank you! As for my attorney, he is not helpful at all and tired of dealing with this case and myself.

[monster1963]

Lucky, I was talking about my school loans. They can be written off as I am totally disabled but my doc won't do the paperwork. Until those loans are written off I am afraid putting those funds in an account of any kind because I am afraid they will attach it.

Sorry, didn't mean to confuse things and you are quite helpful, thank you! As for my attorney, he is not helpful at all and tired of dealing with this case and myself.

[Cervical_Fusion]

(01-31-2012 04:42 PM)monster1963 Wrote:  Lucky, I was talking about my school loans. They can be written off as I am totally disabled but my doc won't do the paperwork. Until those loans are written off I am afraid putting those funds in an account of any kind because I am afraid they will attach it.

Sorry, didn't mean to confuse things and you are quite helpful, thank you! As for my attorney, he is not helpful at all and tired of dealing with this case and myself.

Monster I do not think anyone can attach a lean again a MSA account, I am not sure but I believe I did read that somewhere.

[lucky]

Great information about MSA;

http://www.specialneedsplanners.com/reso...§ion=3

[lucky]

(01-31-2012 03:36 PM)lucky Wrote:  

(01-31-2012 02:53 PM)monster1963 Wrote:  Thank you for your reply Lucky. I am supposed to receive 15,000 all at once the way I understand it. Supposedly this is 500 per year for 30 years. I just had the documents notarized and mailed them on Monday so I should be receiving it in the next month. I really don't want to put this money in the bank as I am afraid it will be attached while I am trying to straighten out my school loans. My ortho doc says he won't fill out 'complicated' paper work as it is to time consuming for he and his staff. So now I've got to find another doc who will see me and familiarize himself with my injuries so that I can get that mess straightened out.

Why can't anything be simple lol?

Thank you again I appreciate the help.

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Why is everything I do on here double posting?

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Why is everything I do on here double posting?

You are required to put this $15k in a Interest bearing account. There is nothing complicated for your current Doctor to do paper work wise. They should get on the WC fee sch. for your state which they are currently billing you. Go to the billing dept. where this Doctor does his work with your MSA and they should do this for you.

YOU are responsible for reporting your MSA to Medicare yearly. Your Doctor has no responsibility here. Did you have a Attorney? Someone needs to explain to you what your responsibilities are concerning self administrating your MSA.

You pay your doctor from the MSA with a check or debit Card. You pay your prescription drugs with the MSA money. The sum of these totals are reported yearly to Medicare. Really simple paper work but you must have knowledge of what to do.

DID YOU HAVE A ATTORNEY? If you did, you are not informed at all. I will help all I can even to the point of talking by phone with you if necessary.

Also, I failed to recognize your MSA is below $25000 meaning Medicare is not required to approve
http://www.medivest.com/index.php/resour...ssary.html

http://www.articlesbase.com/personal-inj...96532.html

Good Luck

IF Jayne is talking about the above sights, They were posted only to help the IW understand about a MSA. I am promoting no one.

I think if one reads my context it is obvious I was trying to help someone confued with self administrating a Medicare SET-ASIDE.

I have no interest in any firm whatsoever. I self administrate but have used the websites to help me understand about MSA.

If this takes me out, so be it. My intentions were to help the OP.

[LeglEgl]

The fact is, this is a matter of STATE law, as to whether the WCMSA account could be garnished under a judgment lien. IF the account is self-administered, it will likely appear to be a "normal" interest-bearing account in the name of the recipient (injured worker) under his/her social security number and NOT identified specifically as a WCMSA account. This opens the door to a judgment lien seizure.

The reason this is a matter of STATE law, and not SS regulations or Medicare regulations is because this money is ANTICIPATORY of future medical needs, and not directly considered INDEMNITY (non-earnings) payment. In short, these funds are an advance to cover POSSIBLE medical expenses. Not ALL insurance settlement proceeds are exempt from seizure as some can be vicariously considered "earnings" for some purposes, though not for tax purposes.

IF the WCMSA is set up and administered by an outside administrator (a COBC - coordination of benefits contractor), the account would be clearly identified as a WCMSA account under the COBC's account for the BENEFIT of the injured worker. In other words, there would be another "party at interest" in the account, and protect it from seizure under a judgment lien.

Now of course, if the school (or lender) proceeds with civil action and secures a judgment, they could move to attach the bank account that is in your name. This would result in service of a "writ of garnishment" upon the account holder. You could protect the funds at that time by filing a notice of exemption with the Court, but consider the hassle. If you don't file that, and the funds are taken, it's a LOT more difficult to get the money back than to protect it in the first place.

AND ........ you would STILL have to satisfy Medicare before they'd pay for any medical treatment.