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.
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.
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.