A Settlement’s Impact on Entitlement Benefits
For our client that is receiving Social Security Disability (SSDI) benefits, a personal injury case settlement does not impact, change, or reduce SSDI disability payments. Likewise, a personal injury case settlement does not have a negative impact on a person’s eligibility for similar benefits such as Medicare and Social Security Retirement Income. It’s important to note that Medicare does have a right for reimbursement for healthcare bills that it paid that were associated with the personal injury claim. Additionally, is some cases, we may be required to establish a Medicare Set – Aside account to pay for future medical costs associated with the injury in the claim.
These are complex issues that can have a terrible impact on the client in the future if the claim is not properly handled. So many mega-size large Personal Injury Law Firms, do not protect the client’s future interest in their quest for the quick settlement to meet their monthly/yearly quota.
A Settlement’s Impact on Need-Based Benefits
For our client that is receiving needs-based benefits such as Supplemental Security Income (SSI) Medicaid, Temporary Assistance for Needy Families (TANF), subsidized housing, and need-based health insurance plans, then the news is so not good as a personal injury case settlement most likely will negatively impact their benefits and their eligibility for future benefits. This is because in order to receive these benefits the individual most show a financial need. For example with SSI Benefits, the individual cannot have monetary assets in a bank account that exceeds $2,000. If the assets go over this threshold amount then a person’s benefits can be reduced or completely stopped causing the client to suffer significant financial losses. Again, special care by the Personal Injury Attorney is required for the total best interest of the client.
Again, often the mega-size large Personal Injury Law Firms, do not protect the client’s future interest in their quest for the quick settlement to meet their monthly/yearly quota. Yes, their attorneys and case managers generally have settlement quotas that must be met for raises, promotions, bonuses, etc. just like a fast-talking conman.
At the Mark Casto Law Firm, there are no quotas that we are judged on. Our success is solely based on the complete client satisfaction. All aspects of every case are rigorously reviewed and considered. In the event it becomes necessary, we go the extra mile for our personal injury clients and establish a structured settlement, special needs trust, or other benefit protecting and tax-free payment options.