As a liability or Workers’ Compensation attorney, being successful for your clients generally means reaching a settlement. Many injured people can find themselves almost as overwhelmed by the settlement terms as they were just after their accident. Medical custodial accounts with Medivest can help them navigate the waters more confidently.
Medical custodial accounts house settlement funds intended for future medical care in a Workers’ Compensation or personal injury claim. An objective third party, like Medivest, oversees the account to ensure:
These accounts differ from a Medicare Set-Aside (MSA). A MSA is a trust-like arrangement that carries settlement proceeds for forthcoming medical costs. However, the MSA holds only those funds specifically earmarked for compliance with the Medicare Secondary Payer (MSP) statute and covers Medicare allowable expenses.
Conversely, a general non-MSA medical custodial account houses funds for non-Medicare allowable fees or other costs specified in a settlement agreement.
The process is simple with Medivest:
There is no out of pocket expense involved in getting the care the injured party needs.
A medical custodial account with professional administration from Medivest may be an ideal option when an injured person wants help with: