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Can I spend my medicare set aside annuity any way want and not get into trouble?
Wiki User
∙ 9y ago
A Medicare Set-Aside arrangement is created from the settlement of a worker's compensation or liability case. The account is created by using a part of the settlement to be used to pay future medical expenses that are related to the job or injury and would otherwise be payable by Medicare. A structured MSA features annual payments via an annuity. This is a complicated area and you should get expert advice before spending the funds "on anything".
Wiki User
∙ 9y ago
No, Medicare set aside funds must be used only for medical expenses related to your injury covered by Medicare. Spending the funds on non-medical expenses could lead to legal repercussions and impact your future Medicare eligibility and benefits. It's important to follow the guidelines and restrictions set for Medicare set aside funds.
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