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Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16576
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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if a person is on ssi and medicare and medicade but is fixing

This answer was rated:

if a person is on ssi and medicare and medicade but is fixing to get a injury settlement how can I stop it from cutting their check n medicare off? I was told u cant stop it from being cut off. but was told by a person that works forr ssi that I can bypass all that by just having the settlement check deposited into her sons account.

MyVirtualCPA :

I realize you have a question about social security. My goal is to help you better understand your options.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

There is a way to avoid losing your benefits. If your injury settlement is set up to be deposited into a special needs trust, this would allow you to remain on SSI and Medicaid.

MyVirtualCPA :

However, the funds would be set aside for you to use on things that SSI and Medicaid don't pay for

MyVirtualCPA :

Recreation, uncovered medical expenses, legal fees, transportation, food, lodging - anything you need

MyVirtualCPA :

However to have a special needs trust, you need to have it set up by an attorney

MyVirtualCPA :

Depositing the funds into your son's account would be fraudulent, and you could get in trouble by social security if they found out you did that. Besides, the settlement will be reported to the government in your name.

MyVirtualCPA :

So, I would speak with your attorney and see if he can help you draft a special needs trust.

MyVirtualCPA :

You can CLICK HERE to read a good article on this topic.

MyVirtualCPA :

Please let me know if you have further questions. If not, please rate my response as "excellent" so that I may receive credit for assisting you today.

Customer:

I thought I was asking a attorney now.

MyVirtualCPA :

Our site cannot draft a special needs trust for you - you would need the assistance of an attorney in your area for that

MyVirtualCPA :

we can only give you general information

MyVirtualCPA :

Is there anything else I can assist you with today?

MyVirtualCPA :

And as a disclaimer, I am a social security expert, but I am not an attorney

Customer:

nothing further. did I just pay a 1 time fee or is this something I signed up to keep paying for?

MyVirtualCPA :

You should have just paid a one time fee. Did I provide you with excellent service today?

MyVirtualCPA :

To ensure it's a one time fee, contact customer service to ensure that you did not sight up for a subscription.

MyVirtualCPA :

But please let me know if I provided excellent service today

Customer:

yes thank you

MyVirtualCPA :

Thank you it was a pleasure working with you today. If you could be so kind to rate my response as excellent so I may receive credit for assisting you today.

MyVirtualCPA :

Thank you again. I hope you have a great night.

Megan C and 2 other Social Security Specialists are ready to help you
Thank you for the positive rating. I really enjoyed working with you – please feel free to request me again when you come back to ask another question. Simply enter "MyVirtualCPA" in the subject of your question, and it will be routed directly to me. Thank you again for using JustAnswer. For the quickest service, please post a new question.