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MSA fund
#8
(02-12-2016, 11:46 AM)Timothy Belt Wrote:
(02-11-2016, 03:08 PM)1171 Wrote:
(02-11-2016, 11:39 AM)Timothy Belt Wrote: I can't speak for CA, but I would think MSA rules would be basically the same nation wide.  Here in PA, the attorney's can not take a fee from the MSA amount.  We can negotiate a fee on top of the MSA or take a fee from the lump sum separate from the MSA, but not from the MSA itself.

As to how any residual is treated, I agree with 1171 that this term needs to be negotiated.  Read the documents carefully.  I have seen several agreements where the residual is assigned to the WC carrier or where the annuity simply stops upon the death of the claimant.

Tim,
If the client gets a self-administered MSA and later uses those funds for other purposes, isn't the atty cut out of what otherwise would have been their usual amount for non-MSA settlements ?
They would be, but the general logic is that the approved amount is what is required to fund the MSA, so any reduction for attorney's fees would result in the MSA not being fully funded.  If the client decides to buy a new car rather than the projected treatment, they will still have to document exhaustion of the full MSA before Medicare will pay related bills.  In other words, the injured worker will have to make up the short fall out-of-pocket so even if the original money is not properly spent the claimant will eventually have to document equivalent sums so it is still inappropriate for the attorney to take a portion of that amount.
Thank you. Makes sense as long as the client eventually has to dip into their own funds for treatment or when it's a medical only settlement.
Reminder :
........Each state has their own comp system; POST YOUR STATE to get accurate information. Use the search feature to find information from similar questions.
THANKS FOR POSTING.
 
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Messages In This Thread
MSA fund - Willis - 02-10-2016, 11:09 PM
RE: MSA fund - 1171 - 02-11-2016, 12:33 AM
RE: MSA fund - Willis - 02-11-2016, 09:38 AM
RE: MSA fund - 1171 - 02-11-2016, 01:28 PM
RE: MSA fund - Timothy Belt - 02-11-2016, 11:39 AM
RE: MSA fund - 1171 - 02-11-2016, 03:08 PM
RE: MSA fund - Timothy Belt - 02-12-2016, 11:46 AM
RE: MSA fund - 1171 - 02-12-2016, 12:25 PM
RE: MSA fund - California_Help - 02-12-2016, 02:08 PM
RE: MSA fund - 1171 - 02-12-2016, 02:43 PM
RE: MSA fund - Willis - 02-15-2016, 10:06 AM
RE: MSA fund - 1171 - 02-15-2016, 05:23 PM
RE: MSA fund - Willis - 02-15-2016, 09:14 PM
RE: MSA fund - 1171 - 02-15-2016, 10:41 PM
RE: MSA fund - Willis - 02-16-2016, 10:37 AM
RE: MSA fund - 1171 - 02-16-2016, 03:37 PM
RE: MSA fund - Willis - 02-17-2016, 04:03 PM
RE: MSA fund - 1171 - 02-17-2016, 04:35 PM
RE: MSA fund - Willis - 02-19-2016, 10:24 AM
RE: MSA fund - just so - 02-20-2016, 03:32 PM

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