I never said it would be 10K per year... I said there could be set up fees for the accounts where a professional administrator handled the MSA. It would be rediculous to think 10K per year would be paid by anyone.If I hired Medivest to administrate my MSA and they charged $10000 a year for there services, that would be a extra $280000 lifetime expense. A settlement would never happen.
No...I dont have an MSA... I have a CMS review and approval letter outlining the WCMSA submitted. I have the annuities in place, and reams of paperwork I have compiled so I can make an intelligent decision before I accept a WCMSA. You don't need to HAVE a MSA in place paying the bills to have even a reasonable grasp of the requirements and mandates of what is included in self administration.
How many times does a 'custodial account' have to be defined...? you use this money for ALL treatment/services the Medicare precludes use of the MSA funds for. Particularly where the MSA is funded by an annuity, you run a higher risk of exhausting those funds before the next deposit is made. When that happens, YOU pay out of pocket for the share of cost regular Medicare does not cover. In some cases that could be a significant amount of money..3 Do you have a Custodial Account and if you do what have you used it for?
Sorry...that is NOT the case... if it were... do you actually think Medicare would give a shit how the bills were paid for your injury...?I may understand if a person had a very serious medical condition requiring lots of medical attention and needs but there are many cases like mine where a person just sees a doctor once a month
It is not a simple as you think... I'm happy for you in your situation that everything is taken care if as it is. It would not be fair to others contemplating a WCMSA to see things as simple as you do.
You're absolutely right...these are life altering issues. Sometimes the way questions are asked, and asked again but with a little 'twist' I have to wonder just how much reading is done at the links provided. There is a LOT of information out there regarding WCMSAs' and custodial accounts...if they weren';t necessary... that wouldn't be the case.I feel these are "fair" questions. These are life changing decisions we are having to choose/settle/make etc.
I don't have all the answers...no one has or there woudn't be other blogs and seminars that discuss these issues all the time. No MSA is cut and dried. It's not fair to other IW's to say they are.