The most effective step that can be taken to insure you receive maximum value for your settlement dollar is to engage the services of a Structured Settlement Broker who specializes in the settlement of Workers’ Compensation claims.
We are able to work with you in determining the fair value of even the most complex case. Through the use of doctor reports, payment histories and Life Care Plans, we can provide present value figures from which you can create an appropriate settlement range.
We can assist in negotiation of the settlement either through direct contact or by providing useful strategies based on the facts of you particular case.
Some form of Allocation needs to be created regarding monies received in the settlement for future medical care as they pertain to the type of expenses Medicare would otherwise be responsible for. Currently, there are several different methods and procedures for determining the Allocation. We can assist you in determining the best approach to take: a MSA created by the Applicant’s Attorney, a MSA created by a professional outside vendor, and/or whether Medicare should be approached for pre-approval.
As your Settlement Specialist, with access to the various present value figures and potential reduced life expectancies, we can assist in characterizing the settlement in the best light possible in terms of minimizing any potential Social Security offsets. Present value cost figures are essential in creating and working with the Hartman formula, which becomes part of the Structured Settlement C & R.
We will review the C & R document to ensure that all necessary language is included and correct, especially that language pertaining to the tax free status of the payments.
Over the past twenty-five years, Structured Settlements have been used in increasing numbers to resolve Workers’ Compensation cases. There are several reasons why a structured settlement provides advantages not found in other forms of resolution.
Pursuant to I.R.C. 104 (a)(1) of the Internal Revenue Code of 1986, as amended, all payments are “tax free”. The Code allows for the tax free accrual of interest on the sum of money used to fund the “periodic payments”. As a result, the applicant receives greater benefits than would otherwise be available by the applicant investing the money themselves.