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.
NYSARC Trust Services offers MSA administration to people with a disability who have settled workers' compensation or personal liability cases and need to preserve eligibility for Medicaid services.
NYSARC MSA Accounts can be established using a lump sum or structured settlement. These funds will be used to pay for future medical treatment, equipment, and prescription costs related to the settlement injury.
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 deem you unqualified 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 your MSA funds should have paid for.
As your professional administrator, NYSARC will:
To learn more, please consult with your attorney and CONTACT US to get started!
NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need.
Yours is the golden standard by which all agencies should be measured.
The quality of service offered by NYSARC Trust Services is unparalleled.