As we approach the 17th anniversary of Workers' Compensation Medicare Set-Aside Arrangements, studies have shown that savings average about 34 percent when utilizing a Medicare Set-Aside (MSA) rather than the lump sum amount. What arises is a question as to why anyone would submit an MSA for approval by the Centers for Medicare & Medicaid Services (CMS) as a lump sum only.
The Bipartisan Budget Act of 2018 included a critical change for anyone handling a case with a Medicaid lien: Section 53102 fully repeals Medicaid’s expanded third-party recovery rights. Medicaid can now only seek reimbursement from a portion of the settlement allocated to medical costs. Medicaid cannot recover monies from lost wages, pain and suffering or any other damages awarded to the injured party.
Watch this video to learn about the history of Arcadia Settlements Group, from the 1970s when the structured settlements industry was founded, to today.
Arcadia joined annual charity partner Liberty Mutual Insurance Company in a Mulligans gold event supporting Veterans Martial Arts Training (V-MAT), a New England-based organization that helps rehabilitate U.S. service veterans recovering from physical and psychological injuries.
One item in President Donald Trump's proposed 2018 budget could have a major impact for workers' compensation payers: the elimination of the reverse offset in benefits for those who receive both workers' compensation and Social Security Disability Insurance (SSDI). David J. Korch, VP of Workers' Compensation and Medicare Practices at Arcadia, discusses the history of federal legislation and breaks down the potential impact that eliminating the reverse offset could have to reducing the cost of settlements.
EPS Settlements Group announced today the company’s refreshed brand, including its new name – Arcadia – and logo. Arcadia was born out of a desire to create long-term financial security and an improved quality of life for injured people.
The newly elected president of the National Structured Settlements Trade Association (NSSTA) recently discussed his outlook for the industry, the upcoming election and goals for future growth.
People sometimes get into tough financial situations and will need to access funds they would be better off leaving alone. From the relatively straightforward process of borrowing from your own 401(k) to the more nebulous payday loan shops, there is a steep financial price to pay when accessing funds this way.
Who among us middle-class humans hasn’t dreamt about what we would do if we came upon a huge sum of money? I know my response, probably like yours, involves getting rid of my debt, taking a long vacation, easing the financial future for my children and sure, a new wardrobe (let’s be honest!)
Our very own John McCulloch shares insights on the appeal of tax free structured settlements in this February 2013 Claims Journal. See the article here