Assistance with Personal Injury Settlements
Special Needs Law attorneys at OWM Law can assist you when a financial settlement is anticipated as a result of a personal injury. A financial settlement does not affect an individual’s receipt of Social Security Disability Income (SSDI) or Medicare. However, such settlements will potentially terminate an individual’s Supplemental Security Income (SSI) and Medicaid if the settlement funds are not transferred to a special needs trust.
The termination of SSI or Medicaid could result in a substantial economic impact for the disabled person. Although the receipt of a personal injury settlement could provide the individual with what appears to be a significant amount of money, the funds may not be enough to last for the lifespan of the individual. With the loss of Medicaid, the monthly costs may increase because more money is being spent on prescriptions, health aides, therapy, etc. The establishment of a special needs trust will allow the individual to maintain their needs-based public benefits as well as have the trust funds available to pay for the expenses that the government benefits do not cover.
- Social Security Disability FAQ
- Social Security Disability Worksheet
- OWM Newsletter - November 2011 - Can I Work While Receiving Social Security Disability Benefits?
- OWM Newsletter - June 2010 - Why So Many People Are Denied Social Security Benefits