WILMINGTON, Mass.--(BUSINESS WIRE)--Settling a workers’ compensation or liability claim can be daunting, especially for an injured party who needs ongoing medical care throughout their lifetime. While the settlement amount allocated or included in a Medicare Set Aside (MSA) may seem more than adequate to cover the injured party’s healthcare expenses, how can they guarantee the money will last — especially since they must pay full retail prices after they leave the workers’ compensation system? Will there be enough to cover any unexpected medical issues that may arise? How will they ensure they are in full compliance with Medicare, so they don’t lose benefits that would kick in if the money does run out?
Closing a workers’ compensation or liability claim should — and can — be an opportunity for the injured party to move on with their life without feeling overwhelmed. There are organizations dedicated to helping injured parties navigate the healthcare system post-settlement while protecting their money and assuring compliance with Medicare requirements.
“The Perfect Pair: Professional Administration & Structured Settlements” defines and describes the benefits of settling a workers’ compensation or liability claim with a structured settlement and having a third-party manage the injured person’s settlement or MSA funds after a settlement. The whitepaper, which can be downloaded at https://blog.ametroscards.com/the-perfect-pair-professional-administration-structured-settlements also demonstrates how a structured settlement would protect the settlement funds, even if an unanticipated, complex surgery is needed a few years after settling.
“Professional administration achieves two important goals,” said Marques Torbert, CEO of Ametros. “It saves the injured party money on their injury-related medical expenses through discounted medical network prices and it ensures that Medicare reporting for the Medicare Set-Aside account is done properly.”
Included in the report is a case study that examines two scenarios for a typical injured person’s funds 10 years post-settlement; first, taken in a lump sum and self-managed, then taken as a structured settlement with help from a professional administrator. In the first scenario, the injured party is left with $20,000 of debt; in the second, he has a gain of $40,000.
“Unfortunately, far too many injured parties settle their claims without a full understanding of the facts and end up with no money and few options,” said Porter Leslie, president of Ametros and lead author of the study. “This paper presents a clear-cut example of how a structured settlement and working with a professional administrator can produce a true win-win for the injured party.”
Ametros is the industry leader in post-settlement medical administration and a trusted partner for thousands of members receiving funds from workers’ compensation and liability settlements. Founded in 2010, Ametros provides post-settlement medical management services with significant medical and pharmacy discounts along with automated payment technology and Medicare reporting tools. Headquartered just north of Boston in Wilmington, Massachusetts, Ametros may be reached at 877.275.7415 or via www.ametroscards.com