Structured Settlement Brochures in English and Spanish
I regularly receive requests for brochures- both digital and printed- in Spanish from many of my clients. And so I am thankful to the National Structured Settlement Trade Association (NSSTA) for creating many of their brochures in Spanish and English. These brochures can be used by plaintiff attorneys, defense attorneys, ad litems, mediators, claims adjusters, etc.
There are a number of brochures related to financial information and strategies regarding structured settlements as well as information brochures for parents of minors, etc. in both English and Spanish. There are also a number of quotes by claimants, attorneys and others in the field including this one from Texas attorney, Francisco Guerra:
“For years I have strongly recommended structured settlements to my clients because they are the single best way to guarantee their money is safeguarded. They are the single best way to ensure that my clients maximize their opportunity to live independent lives. They are the single best way to ensure that my clients obtained the justice they deserved.”
Francisco Guerra, II Victims rights attorney (San Antonio, TX) Voted Texas “Super Lawyer” (2006-2011)
If you are interested in reviewing the different brochures, downloading them to print or handout or sending them to a client, you can find them at my website at http://www.haneystructures.com/resources.html or http://www.nssta.org/content/en-espa%C3%B1ol
Legal Update– New Maryland Law Adds Incentive Using Structured Settlements for MSAs (2012)
On April 10, 2012, Maryland Governor Martin O’Malley signed into law H.B. 114, which amends Maryland Labor Code Sections 9-806 and 9-1007 to exclude workers’ compensation settlements from the assessments for the Subsequent Injury Fund and the Uninsured Employers Fund if the settlement uses a structured settlement annuity or is professionally administered when a Medicare set aside (“MSA”) allocation is part of the settlement. The new law is effective as of July 1, 2012.
This legal update is published by Providio MediSolutions (www.providiomedisolutions.com), which provides a broad spectrum of Medicare Secondary Payer Act (MSPA) compliance solutions for law firms, defendant insurers, third party administrators, self-insureds and, of course, Medicare beneficiaries themselves.
MARYLAND PASSES LAW SAVING EMPLOYERS/INSURERS MONEY IF THEY USE A STRUCTURED SETTLEMENT OR PROFESSIONAL ADMINISTRATION ON MSA’S
Analyst’s Comment provided by John McCulloch, J.D.
This is a huge win for insurers and employers in Maryland, and let’s hope it catches on in other states. Structured settlements are a guaranteed way to save money on MSA’s, yet many insurers and employers forget about them when an MSA is to be funded. Professional administration ensures the MSA is utilized correctly, protecting an injured worker’s Medicare eligibility. If that wasn’t enough, the state of Maryland has now given insurers and employers a huge incentive to structure and/or professionally administer MSAs. Consider that just by using a structured settlement to fund a MSA (which already saves money), a Maryland employer can now save an additional 7.5% on every settlement. Every employer and insurer in Maryland should put fund MSAs with structured settlements and include professional administration of the MSA to create an added cost savings tool kit for their workers’ compensation settlements. The savings could easily reach several hundred thousand dollars each year.
Facts
The Maryland Workers’ Compensation Commission (the “Commission”) normally imposes an assessment of 6.5%, payable to the Subsequent Injury Fund and 1% for the Uninsured Employers Fund for settlements involving permanent disability or death, including awards for disfigurement and mutilation. The new law states that when the amount of medical benefits specified in a formal set-aside allocation is part of an approved settlement, the agreement is excluded from assessments imposed by the Commission if a) the amount of medical benefits are in excess of $50,000 and the periodic payments are paid for with an annuity or b) for any amount of medical benefits there is a third party professional administrator for the set-aside and no reversionary interest to the employee or their beneficiaries.
The new law can be found here: http://mlis.state.md.us/2012rs/chapters_noln/Ch_41_hb0114T.pdf.
For more legal updates, please go to http://www.haneystructures.com/legalupdates.html.
Structured Thinking from Jayna Haney 