Many Special Needs Trusts are funded with personal injury litigation proceeds intended to pay for the future medical care of their beneficiary. These trusts are often established to protect the beneficiary’s access to government benefits such as Medicaid. However, what’s often overlooked is the requirement to consider Medicare’s interest in the trust. Simply placing settlement funds within a trust does not satisfy Medicare Secondary Payer (MSP) compliance. Non-compliance with the obligations to consider and protect Medicare’s interests in a settlement can jeopardize a beneficiary’s future Medicare benefits*.
Medivest Medicare Set-Aside Trust Advisor Services provides trustees confidence they are in compliance with the intent of the MSP Statute, and beneficiaries peace of mind their Medicare benefits will be protected. This service is designed to take the burden away from the trustee by advising the trust on the administration of all the medical funds, including the Medicare Set-Aside (the funds earmarked for future Medicare allowable, injury related medical care). It’s like having your own department of MSP compliance experts!
*At a minimum for those benefits related to the settled injury, or in some cases, until reimbursement issues are fully resolved, all Medicare benefits could be denied/delayed.