What Is Medicare Set Aside?
When referring to workers compensation and medicare the term “medicare set aside” often comes up in conversation. It is an interesting term in that it never amounts to the same thing, and the amount it offers is often up for debate. Medicare Set Aside is a portion of a workers compensation benefit package that is literally set aside for future payments. So lets assume for a second that you are a hurt worker who is in line for a workers compensation package.
But If You Need More Coverage
If you will need more medical care down the road, some amount of money will be set aside by medicare to take care of payments on future care. This means that less money will come through the pipe up front, but over time you will see it materialize and help you get yourself healthy. In regards to settlement amounts, and set aside amounts the math involved is so intricate that estimating a number would be quite difficult. For this reason it is important not to do so yourself. If you become overly involved in trying to find a number for medicare set aside upfront you will cost yourself a lot of sleep and heartache if the number does not come through in the end.
When Its All Said And Done
You should note that in some cases medicare set aside is not recommended though there are few. For instance in a situation where your doctor does not believe you will need further treatment, set aside will not come into play. Their are several other ways in which the money may not come into play down the road, although they vary often and should be researched properly beforehand. Never let yourself go uneducated about something as meaningful as health care, or medicare and its intricacies.
5 Responses to “What Is Medicare Set Aside?”
Leave a Reply
is the set aside money your settlement or is that
money just for further medical treatment
thank you
is there any possible way to sell or borrow against a medicare set aside.?
If I self-administer my workers compensation/medicare aside, is the money allocated annually and paid directly to me?
For instance, in my state say $12,000 for the year; do I get the amount in a lump sum and thus reductes the overall set-aside amount?
Thanks
I have thousands set aside for over 10 yeard ago. can I get it?
i had my injury in 1998 I had a settlement in 2006 ,I have a knee injury and I need surgery, I live in mexico , and I suffer daily with my pain , I need my money , how can I get it for my surgery?if I cannot return to the usa `till thrieteen more years and I cannot handle the pain, I have no money I owe a lot, I have to get my money to pay my debts and doctors and to eat, I feel that I will die and usa will keep my money , because there is not fair that they are doing this to me I need help please