Affiance Partners, LLC. is a partnership that includes
the industry leader in Medicare Set-Asides, a legal
firm with in-depth custodial administration experience
and a financial institution with managed assets of 117
billion dollars. This partnership offers properly managed,
legally sound and financially secure custodial account
services to the MSA marketplace.
Finally, an extra layer of protection for your settlements. Every Medicare Set-Aside submitted to CMS for approval
must specify if the funds will be self-administered
by the claimant, or set up in a custodial account. Affiance
has solutions for both options, allowing the claimant's
best interests to be fully realized.
In order to provide extra protection against Professional
Liability exposure, Affiance is the only company to
offer a First Year Self-Administration Account program.
Complete with compliance submission to CMS.
Affiance Partners serves the settlement community by
providing a secure, formalized approaches to managing
funds for defined medical purposes. Affiance partners
is the result of two of the most experienced firms working
in the workers compensation and liability settlement
communities combining forces to provide a solution to
an increasing need. For the first time, properly managed,
legally sound and financially secure custodial account
services are available to the MSA marketplace. A Medicare
Set-Aside Custodial Account is an account to administer
the Medicare Set-Aside Allocation. This account is funded
by cash and / or an annuity and is used to pay for your
medical expenses that would normally be covered by Medicare
and which are related to the injury(s) for which you
received settlement proceeds. This MSA approved custodial
account facilitates the management of the CMS approved
Medicare Set Aside. Upon receipt of Medicare's approval
of the MSA, the custodial account is funded. Funding
options include 1) Full cash value of the MSA 2) Approved
seed money of MSA complimented by a fixed stream of
income funded via a structured settlement annuity.
The need for this mechanism creates instant value for
all parties:
- Plaintiff:
- Does not jeopardize benefit eligibility,
- Provides guidance for use of MSA, and
- Removes the burden of reporting
- Insurer and Attorneys:
- Provides peace of mind because the plaintiff
is provided a trusted resource to manage future
care and avoid post settlement liability
- Medicare:
- Insures the approved allocated funds are used
for their intended purpose; and
- Provides a uniform way of complaint disbursement
and reporting
By taking over the time consuming task of validating
and paying the correct expenses as well as handling
all reporting and compliance with CMS (Center for Medicare
and Medicaid) standards, our professionally managed
custodial account protects settling parties(via a assurance
of reliable long-term protection of msa funds) in addition
to the beneficiaries future coverage and benefits. This
built in quality control is attractive to both parties
(you and Medicare) as our custodial accounts are managed
to ensure funds are utilized only for the intended purposes
(again, minimizing exposure for both parties). Affiance
further drives the security by having all funds custodianed
in an RBC Dain account.
Affiance Partners will only utilize the funds for
injured related expenses that Medicare would otherwise
cover. The custodian generates and submits annual accounting
of the MSA to the Center for Medicare and Medicaid Services.
Additional responsibilities include coordination of
funding, immediate correspondence to CMS upon the account
being exhausted in a temporary or permanent basis, and
management of the fund distribution upon beneficiary's
death.
There is no custodial firm today offering more legal and
financial security, and no one offers these services at
a better value. For more information contact one of our
Affiance Partners Representatives listed here, Contact
Page.
|