An MSA is the portion of a settlement that is "set-aside" for future medical expenses. Once the funds in your MSA are properly exhausted, Medicare will cover any additional costs related to your injury.
If you need to preserve eligibility for Medicaid services, NYSARC Trust Services can administer a Medicare Set-Aside (MSA) account for people with disabilities who fund a Community Trust with settlement proceeds from a workers' compensation or personal injury lawsuit.
Properly administering your MSA funds is essential to maintaining your eligibility for Medicare benefits and any other means-tested benefits you receive.
If the funds are not handled properly, Medicaid may count the funds in your MSA as an available resource and discontinue your eligibility to receive services.
You can administer your own MSA, but there are many rules governing the use of funds within an MSA account. These accounts require detailed record keeping and annual reporting to the Centers for Medicare and Medicaid Services (CMS).
Failing to follow these guidelines could jeopardize your current or future Medicare eligibility and even result in out-of-pocket expenses to reimburse Medicare for medical expenses that the funds in your MSA should have paid for.
As your professional administrator, NYSARC will:
To learn more, please consult with your attorney and CONTACT US to get started!
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