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WC California /MSA - Printable Version

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WC California /MSA - Flipping fran - 05-20-2020

Hi all, so my msa has been submitted, but there is no proposal yet for the seed money for further medical. Medicare has my case in thier system, however nothing on the money side yet . So I thought that once it was submitted that the seed money would be there so that Medicare can approve it or whatever they do.
How is a msa submitted without the seed money ? I thought that's the reason why it's submitted. So confusing! !!
Thanks in advance! !!


RE: WC California /MSA - 1171 - 05-20-2020

Any settlement $$$, including amounts to third parties, cannot be paid until settlement has written approval of Comp Court. There is never a Legal settlement Until judge signs off.


RE: WC California /MSA - Flipping fran - 05-20-2020

Thanks 1171 !! I understand about the judge having to sign off ,but I don't understand why when the MSA was submitted that the seed money proposal isn't included as of yet ..Medicare has the MSA, but no $$$ yet for approval. .
Thanks Again


RE: WC California /MSA - 1171 - 05-20-2020

if they specified that the MSA was to be an annuity purchased incrementally and also what amounts to the MSA would be generated and when then the purchase price is not fixed as it fluctuates with the state of the economy and the prevailing interest rates. annuities aren't universally the same price at all times as the amounts they produce are dependent on the cost of money at a particular time. the same annuity today will not cost the same in 10 years.......


RE: WC California /MSA - Flipping fran - 05-20-2020

Thank you 1171, yes I'm concerned about an annuity and I've voiced that to my attorney, seems like it goes on deaf ears .. apparently it's all in the wording and I think the Hartman formula also .
Thanks Again


RE: WC California /MSA - 1171 - 05-20-2020

The comp court will still retain jurisdiction Over the terms Of the settlement should anything go remiss in the future. But the big question is “will your Attorney be there If there is a problem once theIr fee has been paid?”


RE: WC California /MSA - Flipping fran - 05-20-2020

Ha ! That's a great question 1171 ! At this point I'm not feeling very reassured about that ,plus I can't get an answer from her about the MSA. ... but now the question is how does one make sure that once the attorney is paid that if something goes wrong or something like that, that she or he would be there to continue to help !!! That I'm sure is a loaded question ...
Thanks Again


RE: WC California /MSA - 1171 - 05-21-2020

(05-20-2020, 09:38 PM)Flipping fran Wrote: Ha ! That's a great question 1171 ! At this point I'm not feeling very reassured about that ,plus I can't get an answer from her about the MSA. ... but now the question is how does one make sure that once the attorney is paid that if something goes wrong or something like that, that she or he would be there to continue to help !!! That I'm sure is a loaded question ...
Thanks Again

There is no guaranty; just good faith. Discuss it with her.
You want assurances that atty fee includes help with future issues should Carrier fail to follow settlement agreement.


RE: WC California /MSA - Flipping fran - 05-22-2020

Thanks 1171,I'll definitely talk to her about that.. I must say she continues to bring up a structure settlement company, which would take any burden off of her I'm guessing
And your absolutely right no guarantee, but I'm hopeful that good faith means just that.
Thanks Again for all your responses, I do appreciate it and your time


RE: WC California /MSA - 1171 - 05-22-2020

Using a company could be good as they are likely to be around awhile and structured settlements are complex and they would be familiar with more custom options.