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PLEASE NOTE: The funding procedure for new accounts has changed. New accounts can now fund a trust by mailing a check directly to the bank or by a one-time electronic deposit. See instructions.
Medicare Set-Aside (MSA) accounts are often designated in workers' compensation and personal injury lawsuits when a portion of the settlement proceeds are "set-aside" to cover future medical costs related to an injury.
If you need to preserve eligibility for Medicaid services, NYSARC Trust Services can administer a Medicare Set-Aside (MSA) account for people with disabilities who fund a pooled trust with settlement proceeds.
Properly administering your MSA funds is essential to maintaining your eligibility for Medicare benefits and any other means-tested benefits you receive. If the funds are not handled properly, Medicaid may count the funds in your MSA as an available resource and discontinue your eligibility to receive services.
You can administer your own MSA, but there are many rules governing the use of funds within an MSA account. These accounts require detailed record keeping and annual reporting to the Centers for Medicare and Medicaid Services (CMS). Failing to follow these guidelines could jeopardize your current or future Medicare eligibility and even result in out-of-pocket expenses to reimburse Medicare for medical expenses that the funds in your MSA should have paid for.
As your professional administrator, NYSARC will:
To learn more, please consult with your attorney and CONTACT US to get started!
John settled his workers' compensation case and a Medicare Set-Aside (MSA) was funded in order to pay for future medical services related to his workers' compensation injury. Now he is no longer eligible for Medicaid because the MSA is being counted as an available resource.
NYSARC Trust Services can administer an MSA account as a special needs trust so those funds remain available to pay for appropriate future medical services while enabling an individual to remain eligible for means-tested government benefits.
"NYSARC Trust Services representatives have always been very professional and wonderful people to work with. They are doing great work with helping people in need."
"Yours is the gold standard by which all agencies should be measured."
"The quality of service offered by NYSARC Trust Services is unparalleled."
"With a NYSARC trust we know she will always be cared for."
"You enable seniors to live their remaining lives with dignity. The work you do is appreciated more than you know."
"Your organization is a magnificent group of people dedicated to providing the elderly and disabled with a life of dignity."