What is the name of your state?What is the name of your state? south carolina
Hi! First of all, 3rd party charged at fault for accident. I do have an attorney who will be paid 1/3 of my settlement. We agreed upon this by signing atty/client agreement in June 2005 while I was still in hospital.
About 3 weeks later in July '05, my health insurance co. sent out the subrogation/right to be reimbursed by 3rd party settlement. My health insurance requests the atty to protect their rights in the 3rd party paid settlement- and with both the attorney and my signatures, they agree to reduce their lein amount against my settlement (for medical bills paid by them) by 1/4 if settled out of court or 1/3 if case goes to court.
Well, now and 3 months later, I understand it better, and I want my insurance co to reduce their lein amount by 1/3 (which is what my attorney gets regardless of settlement out of court or lawsuit filed)
My question is regarding the "common fund" rule I read on this site. Must my health insurance company reduce their expected reimbursement (lein filed against my settlement) by 1/3 (instead of 1/4) since that is what my attorney is charging? I have not asked my atty this- I don't want to offend him. (if the my insurance doesn't increase discount to 1/3, then I would like for atty to decrease the med bill portion of settlement from 1/3 to 1/4) What is the prevailing rule for this?
Thanks!
Lynn
Hi! First of all, 3rd party charged at fault for accident. I do have an attorney who will be paid 1/3 of my settlement. We agreed upon this by signing atty/client agreement in June 2005 while I was still in hospital.
About 3 weeks later in July '05, my health insurance co. sent out the subrogation/right to be reimbursed by 3rd party settlement. My health insurance requests the atty to protect their rights in the 3rd party paid settlement- and with both the attorney and my signatures, they agree to reduce their lein amount against my settlement (for medical bills paid by them) by 1/4 if settled out of court or 1/3 if case goes to court.
Well, now and 3 months later, I understand it better, and I want my insurance co to reduce their lein amount by 1/3 (which is what my attorney gets regardless of settlement out of court or lawsuit filed)
My question is regarding the "common fund" rule I read on this site. Must my health insurance company reduce their expected reimbursement (lein filed against my settlement) by 1/3 (instead of 1/4) since that is what my attorney is charging? I have not asked my atty this- I don't want to offend him. (if the my insurance doesn't increase discount to 1/3, then I would like for atty to decrease the med bill portion of settlement from 1/3 to 1/4) What is the prevailing rule for this?
Thanks!
Lynn
