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Set Aside

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#1
What is the name of your state?Georgia

About 5 or so years ago, I fell at school and broke my hip, due to an extremely slick floor. I received a settlement, and there was a set aside placed in an interest bearing account to be used for future expenses due to the incident. I have had no expenses due to this injury since. The money has remained untouched. I am retired, partly because I was no longer able to work after the fall, and am wondering if there is any way I can use that money for living expenses. I used the settlement to help purchase a home in another town, and am currently in financial difficulty. I am now 73, and have United Health Care Medicare Advantage through my TRS.

Is there anything I can do?

Thank you,
Maryann
 


quincy

Senior Member
#2
What is the name of your state?Georgia

About 5 or so years ago, I fell at school and broke my hip, due to an extremely slick floor. I received a settlement, and there was a set aside placed in an interest bearing account to be used for future expenses due to the incident. I have had no expenses due to this injury since. The money has remained untouched. I am retired, partly because I was no longer able to work after the fall, and am wondering if there is any way I can use that money for living expenses. I used the settlement to help purchase a home in another town, and am currently in financial difficulty. I am now 73, and have United Health Care Medicare Advantage through my TRS.

Is there anything I can do?

Thank you,
Maryann
You cannot use the money in the set-aside account for your living expenses. Sorry.
 

not2cleverRed

Obvious Observer
#4
You cannot use the money in the set-aside account for your living expenses. Sorry.
However, there are perhaps expenses connected to the disability resulting from the injury that perhaps this should cover. For example, if the reason OP can no longer work is due to mobility issues, than mobility related expenses could be justifiable. OP may be overly narrowly defining expenses related to the injury as just doctor care.
 

quincy

Senior Member
#5
However, there are perhaps expenses connected to the disability resulting from the injury that perhaps this should cover. For example, if the reason OP can no longer work is due to mobility issues, than mobility related expenses could be justifiable. OP may be overly narrowly defining expenses related to the injury as just doctor care.
True.

I question the purchase of a new house with the medical expense set-aside, though. If money spent from the set-aside cannot be connected to the injury, it is possible the funds will have to be repaid or future medical expenses paid from one's own pocket.

It is always a good idea to go over all facts with an attorney in one's own area.
 
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