My workers compensation claim was made in the State of: Tennessee
My initial injury had occurred in 2005 and a second injury in 2007.
My employment was terminated 2009.
As my 3 year requirement (TN requires lifetime medical benefits remain in place for 3 years from settlement date) has arrived; the IC approached me on behalf of my former employer asking if I would be willing to settle lifetime medical benefits for each claim I have. I said I would entertain an offer, but would not commit to a settlement.
I know that a MSA must be implemented in my case as I am receiving SSD benefits and have been since 2010. I was told by the IC that I would be contacted by a company (I won't mention the name, however I have found they are a non biased third party company) which I have been. This company examines the previous 2 years of medical costs for each claim, estimates cost for future care and then prices it at an amount that Medicare may or may not approve. This evaluation has since been completed.
Sorry, I can be long winded sometimes but I thought some history may be warranted here.
With an MSA being set up where do the funds come from for the account? Part of/subtracted from the overall settlement/buyout?
Who has access to these funds to be dispersed for medical costs?
Is the account made available to me for access to the funds?
A couple of questions not directly related to the above:
Upon negotiating/agreeing upon a potential value of the claims; am I correct in that a state WC judge would have to approve of the dollar amount?
The judge has the power to strike down the amount should he/she believe it to not be an adequate amount?
Being this would go to a Tennessee judge I have read that the judges within this state are not fond of anyone settling these types of claims.
Once again, sorry for the looooong winded version! Any guidance offered will be much appreciated.