Tax Cut and Jobs Act on Claims Settlements

The Tax Cut and Jobs Act of 2017 (the "Act") was signed into law by President Trump on December 22, 2017 and contains some of the most sweeping tax changes to the Internal Revenue Code seen in decades. While these changes have no direct impact on structured settlements or the taxation of most types of claims, there are a number of changes that have a significant impact on defendants and plaintiffs. Arcadia's John McCulloch explains.

August 9th, 2018|

Why Consider a Special Needs Trust

A Special Needs Trust, also called a Supplemental Needs Trust ("SNT"), ensures that a catastrophically injured person will have their long-term medical and subsistence needs provided for without sacrificing their basic support or depleting their funds. In this article, Arcadia's John McCulloch discusses Special Needs Trusts: their purpose, safeguards, and what they can provide compared to Medicaid and SSI.

April 17th, 2018|

Lump Sum or Structured MSA

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.

March 30th, 2018|

Medicaid’s expanded third-party recovery rights repealed in Bipartisan Budget Act of 2018

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.

February 19th, 2018|
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