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$ From WC/Settlement Put Aside into Medicare account ?
09-20-2007, 10:05 PM
Post: #1
$ From WC/Settlement Put Aside into Medicare account ?
Question:

California WC. Went to trial after 9 years. Atty & Defense wants to set aside an account for Medicare. However, my attorney said if $ was not used I could withdraw it in the future. I was told by several other reliable sources this was NOT true. Once this money was put into an account for Medicare it is used only for WC injury and nothing else. If not used for medicine or surgery I cannot withdraw it.

I have picked up a supplement insurance through Medicare which is very good and they cover everything. Unfortunately, I called Medicare today and they knew nothing what I was talking about- unbelievable huh?

So sum it- If account is not used can you cash it in????
Thanks much.
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09-21-2007, 04:38 AM
Post: #2
RE: $ From WC/Settlement Put Aside into Medicare account ?
hi,

I think someone on here said after so many years you can draw it down but i am not sure. Good luck
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09-21-2007, 07:13 AM
Post: #3
RE: $ From WC/Settlement Put Aside into Medicare account ?
Would beinterested in knowing that answer also as I have always understand that it cannot be drawn on for any reason but the IW medical and in the case of his/her death there will be a beneficiary listed that the balance would go to.

Also this belongs on the IW forum.This section is for the emdical expert.


CAPWink

God is never late.

In the end it doesn't matter how many years were in your life but how much life was in your years.
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09-21-2007, 08:27 AM
Post: #4
RE: $ From WC/Settlement Put Aside into Medicare account ?
Hi,
I'm in Mich.....I asked my lawyer that same question....and he said you "wave bye-bye to it" if you don't use it.
Lilly"D

Injured worker, & tired of it all! I'm too old for games!!

A careless word may kindle strife, a cruel word may wreck a life, a timely word may level stress, and a loving word may heal and bless!
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09-21-2007, 12:08 PM (This post was last modified: 09-21-2007 12:10 PM by WCisBS.)
Post: #5
RE: $ From WC/Settlement Put Aside into Medicare account ?
medicare has a process where you can request that the trust account amount be reevaluated. Medicare would release any excess.
For information on Set Asides see the medicare website
http://www.cms.hhs.gov/WorkersCompAgencyServices/

P.S. this board is for those who need spinal treatment expertise from the Bonati Institute.
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09-21-2007, 08:44 PM
Post: #6
RE: $ From WC/Settlement Put Aside into Medicare account ?
Thanks for the responses. I finally got in touch with the Calif. Regional office. They stated that you cannot touch it for 5 years. After 5 years, you must submit
a form to Medicare request why you want it released. Then Medicare will do a hearing deciding, which is most likely NO.

Nice attorney, huh. Think I should get a NEW attorney, since his scenario of this was completely different than the truth. He's been my attorney since 1999, but never too late to change right? Frustrated!!!!
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09-21-2007, 08:53 PM (This post was last modified: 09-21-2007 08:57 PM by WCisBS.)
Post: #7
RE: $ From WC/Settlement Put Aside into Medicare account ?
Tell him his fee is in the set aside trust!

P.S. you will probably need a life care plan/report documenting any changes in your medical condition that make the trust amount inaccurate before you would have chance at changing the size of the trust amount.
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09-21-2007, 11:43 PM
Post: #8
RE: $ From WC/Settlement Put Aside into Medicare account ?
To 1171:

Can I do that? Tell him where his fee will be? I am now on a medical plan as of Jan 1. and it pays for everything. That is why I am confused about this?Thanks
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09-22-2007, 12:09 PM
Post: #9
RE: $ From WC/Settlement Put Aside into Medicare account ?
probably not.
the work comp judge controls atty fees and would see to it that a fellow atty got his money right away.
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09-23-2007, 12:55 PM
Post: #10
Rolleyes RE: $ From WC/Settlement Put Aside into Medicare account ?
This is in Louisiana and what my experience has been. Although I did not do a settlement for a medicare set aside and elected to keep my medical open. I was told that if I did a medicare set aside, this money would stay in that trust account only for medical bills. It does draw interest. Now if and when something happens to you, whatever money is left in the set aside goes to your children or your heirs. This is all I can offer on this subject as this was my experience. I hope you find the answers that you need for your state. Since this is involving federal agency such as SS and Medicare I can't understand how the rules can vary from state to state. I would have thought it would all fall under the same rules. But, who knows. I wish you good luck with your issue.

Cajun Hugsssssss,
MJC

Lumbar Laminectomy L5 - S1, Lumbar Disectomy L 4 -5, Cervical Microdisectomy C-4 -5, Cervical Anterior Fusion C 4 -5, Cervical Anterior Fusion C 5 - 6, Lumbar Disectomy, Laminectomy and Foraminotmy L 3 - 4, Cryo Surgery Lumbar. --Ongoing Problems.. Permanently Totally Disabled.
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