GOVERNMENT BENEFIT PRESERVATION
Claimants have much to consider regarding the financial implications of their settlements. Eligibility for government benefits is one of the most important issues many claimants must resolve.
Eligibility for Government Benefits
Needs-based government benefit programs use income and asset tests to determine eligibility. In most states, assets as low as $2,000 ($3,000 if married)1 are sufficient to render a claimant ineligible for most needs-based government benefits.
While entitlement benefits such as Medicare, Social Security Disability Income (SSDI), and Social Security Retirement Income will not be impacted by the settlement, there are many needs-based programs that would likely be affected, including:
- Supplemental Security Income (SSI)
- Medicaid (Medi-Cal in California)
- Supplemental Nutrition Assistance Program (SNAP)/Food Stamps
- Temporary Assistance for Needy Families (TANF)
- Subsidized Housing
- Children’s Health Insurance Program (CHIP)
What to Expect When You Work With Our Team
While some may assume that settlement proceeds should provide an adequate replacement for any lost benefits, the reality is that for many injured claimants, the loss of benefit coverage can be catastrophic. The compounding costs of medical procedures, medication, home modifications, attendant care and more can quickly deplete a settlement.
Our team works with injured claimants before finalizing the settlement to determine:
- Whether the claimant is currently eligible or expects to be eligible for needs-based government benefits in the near future; and
- If so, what the best course of action is to protect benefit eligibility and maximize the settlement proceeds.
Whether a special needs trust or a spend down is the right solution, we are here to walk claimants through every step of the process so that they can protect their benefits and preserve their settlement proceeds.
1 As of July 1, 2022, California raised its Medi-Cal asset limits. More information can be found here.
For more information about government benefit preservation, contact us today.
Recommended Reading:
- Does Medicaid Cover Assisted Living? Settlement Strategies for Claimants in Need of Long-Term Care
- Will a Coronavirus Settlement Affect SSDI Benefits?
- Stimulus Checks, SSI, and Medicaid: Will Your Clients Be Affected?
- How to Preserve Settlement Income for Future Medical Needs
- What is the Difference Between Medicare and Medicaid? Protecting Your Clients on Government Benefits
See What clients Are Saying
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“- Marcus J. Bradley, Marlin & Saltzman
I worked with Lance Harris for the first time in 2013. Lance and his assistant, Rosa, were fantastic. They made the [structured settlement] process very easy and provided me with all of the documentation I needed to get the petition for the minor's comp
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“- Kurt Arnold, Partner & Co-Founder, Arnold & Itkin LLP
I have worked with Scott Freeman since the days my firm opened the doors over a decade ago. I trust Scott to ensure my clients' needs are always met both now and into the future. The most impressive thing with Scott is that he finds a way to keep in tou
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“- Robert Molettiere, Moletteire & Torpy
You certainly have made your case that it is vital for me to have you at mediation to get the numbers that are best for my client. Thanks for all your hard work on this case.
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“- Paige W
Need the BEST? Look no further than Susan Gleason! She helped our family with an annuity settlement in a tremendous way! Her style, commitment, and interpersonal skills go unmatched!
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“- Attorney Richard M. Kenny
From my perspective, structuring a portion of my fee out of the settlement proceeds of the case we worked together on several years ago was the smartest move I ever made. With Mitch Kobil's help, I put together a financial plan that provided my three ch
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“- Brian Panish, Panish, Shea & Boyle, LLP | Los Angeles, CA
They are ardent supporters of the plaintiff bar community, and we consider them an integral part of our team.
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“- Mitchell Proner, Proner & Proner | New York City, NY
Christina is a caring, hard-working, and knowledgeable professional. She is meticulous about the details to protect my clients' futures. I would highly recommend her to anybody in need of an experienced settlement planner.
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“- Lawrence M. Kelly, Luxenberg Garbett Kelly & George | New Castle, PA
Any time that I'm in need of a structured settlement proposal for one of my clients George Audi is my first call. George and his staff provide the needed information and settlement options in a prompt and professional manner. George is also a valuable s
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