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Can you spend your Medicare Set aside money

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15y ago

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From what is a Medicare Set Aside allotted?

A Medicare Set Aside (MSA) arrangement is an administrative and funding mechanism used in certain categories of settlements to set aside money for future medical expenses that would otherwise be covered by Medicare. Unless otherwise documented and approved, the amount of a MSA is calculated based upon the specific claimant‰Ûªs life expectancy


If you are in a hardship and you have a money from a medical set a side from a workmans comp case to pay for treatment can you use that money to help you live?

The problem with spending Medicare set aside money for things other than medical treatment is that Medicare will refuse to pay medical bills and providers won't perform treatment when you run out of set aside money. You won't be able to document that all the set aside money was spent on medical expenses and will have no one to pay for your medical treatment. Medicare won't give you permission to do this because it will cause many problems later. They will say you misspent the money. They won't pay for treatment until you have receipts documenting how all the set aside money was spent on medical treatment.


Can I spend my medicare set aside annuity any way want and not get into trouble?

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".


What is a plan that enables workers and their spouses to set aside money for retirement?

A(n) _?_ is a plan that enables workers and their spouses to set aside money for retirement


Is a plan that enables workers and their spouses to set aside money for retirement?

A(n) _?_ is a plan that enables workers and their spouses to set aside money for retirement


What money set aside by Congress for a specific purpose?

its an appropriation


What is the term used for money set aside for expenses?

Savings.


How much money do you have to set aside a week to save 2000?

That depends upon the length of time that you wish to spend, saving your money. There are 52 weeks in a year, therefore if you save $38.47 per week, you will have saved $2000.44 after one year.


Is money set aside by formal action for a specific use?

Appropriation


What is a financial reserve?

An amount of money that's been set aside for emergencies.


What does work allocation mean in account receivable?

money set aside for your use.


What is expenditure warrant in public sector accounting?

money set aside for expenses