Government programs based on your previous income should not be affected by personal injury settlements or awards. Unlike Medicaid, SSI, food stamps and need-based housing programs, which have income guidelines, amounts received from other programs, such as Medicare or Social Security Disability Income (“SSDI),” are calculated based on your work history and income. Medicare and SSDI beneficiaries purchase admission to these government programs based on their work history, and the amount they get from these programs is calculated from what they earned when they worked. As a result, the continuation of benefits under these two programs is generally not affected by the agreement or award.
However, it is important to hire a personal injury lawyer as soon as possible because the responsible parties and their representatives could use the knowledge that you receive benefits under one of these programs as an advantage in reaching a settlement. You don't have to sacrifice your benefits to claim compensation or vice versa. In fact, people who receive benefits are often the ones most in need of fair compensation. One possible solution that will allow you to receive money for damages without affecting your benefit payments is to create a personal injury trust.
If you receive Social Security benefits and are considering filing a personal injury lawsuit, consult an attorney, as receiving settlement funds from a lawsuit can affect your Social Security benefits. Fortunately, there are a few ways to protect your SSI benefits and still get your personal injury settlement. No one should delay filing a personal injury lawsuit because they are concerned that their access to state benefits will be affected. To better protect your benefits, tell your personal injury lawyer right away if you receive Social Security benefits, especially SSI benefits.
Now, there are a couple of separate issues you need to consider as you prepare to file a personal injury lawsuit. When you don't plan properly, a personal injury settlement or compensation can affect your government benefits. So, for example, if you receive injury compensation, your savings now total more than £16,000, it can affect your eligibility to claim housing benefit or income support. Child tax credits and work tax credits are not affected by your savings and would not be affected if you received a lump sum as part of a personal injury settlement.
You don't need to use a regulated claims management company to file a complaint with your bank or financial advisor, you can do it yourself for free and, if your claim is not approved, you can refer it to the Financial Ombudsman Service (FOS), the Financial Services Compensation Program (FSCS), or The Pensions Ombudsman (TPO) free of charge. There are several options available to protect compensation amounts, including creating a personal injury trust. Your personal injury settlement or compensation may put you in a financial situation where you are no longer entitled to benefits under those programs. The Lamber Goodnow personal injury law firm, along with the attorneys at its Chicago partner firms, are experienced in how your personal injury case can affect your government benefits.
You should also note that for financial missale claims, including mis-sold pensions, The Compensation Experts is a claims management company. If you receive benefits through the Social Security Disability Insurance Program (SSDI), your personal injury agreement will generally not affect your benefits, even if you receive a large amount. If you ever need to move to a residential or care home, a Personal Injury Compensation Trust can help protect your agreement and ensure that you don't have to use it to fund long-term care fees. .