Q: How will a settlement affect medicaid insurance? No work avail, & 10 to 12 month delay for SSD what should I know?
Must have health insurance to cover other health related issues, not WC related. Need help to protect financial future. Who best to talk with, lawyer, financial planner, or accountant?
A: Medicaid is a need based program, so depending on the size of the settlement it could eliminate your entitlement. There are ways to spend the settlement that would not necessarily result in the loss of your Medicaid. There are also potential trust options. I would suggest initially discussing this matter with your workers' compensation attorney. You may also want to contact the welfare office and discuss ways to spend down that settlement that would not result in a loss of your Medicaid benefits.
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