If you received a settlement after being in an accident in Arizona, you may be asking yourself: How much will Medicare take from my settlement? This is an important consideration, as it can significantly impact the amount you receive for your other injury needs. Here’s your guide to understanding how Medicare may affect your settlement.
How Much Will Medicare Take From My Settlement Through Medicare Liens?
If you have received Medicare benefits for your accident-related injuries, Medicare has the right to be reimbursed from your settlement. The term for this expected reimbursement is a Medicare lien. Essentially, Medicare pays for your medical expenses upfront, and when you receive your settlement, they expect you to repay those expenses.
When you get injured and Medicare covers your medical bills, they automatically have a lien on any settlement you receive related to those injuries. After Medicare is notified about your claim, they make conditional payments for your medical care. Once your case settles, you must reimburse Medicare for those conditional payments.
Calculating the Medicare Reimbursement Amount
The Medicare reimbursement amount depends on the total medical expenses Medicare paid on your behalf and whether any reductions apply. Medicare may reduce its lien to account for your attorney’s fees and costs. It’s important to work with your attorney to ensure you calculate Medicare’s reimbursement amount accurately and fairly.
Resolving a Medicare Lien
You can simplify the process of resolving a Medicare lien with the help of an experienced personal injury attorney, such as the attorneys at Sargon Law Group.
The first step is to request a statement of the amount Medicare has paid related to your injury. You will then work with your attorney to negotiate the lien amount, if possible. Lastly, you will ensure the reimbursement of Medicare from your settlement.
As you plan your financial recovery, it’s important to take Medicare liens into consideration, as they will impact the amount of money from your settlement that you get to keep.
The Importance of Legal Assistance
It can be difficult to negotiate a Medicare lien and ensure you receive fair and accurate compensation all on your own. An experienced Phoenix injury attorney can make sure to take all necessary steps to comply with Medicare’s requirements and negotiate to reduce the lien and maximize the amount you receive.
Learn More About How Much Medicare Takes From Settlements With Sargon Law Group
The amount of money that Medicare will take from your settlement is generally equal to how much Medicare paid upfront for your medical expenses, minus certain reductions such as attorney fees. Being aware of how much Medicare will take from your settlement is key to planning your financial recovery after an accident.
If you’ve been in an accident and you’re wondering how much Medicare will take from your settlement, contact us at Sargon Law Group today to schedule a free consultation. At Sargon Law Group, we use our decades of experience, insurance expertise, and litigation know-how to achieve the best possible results for accident victims in Arizona.