Skip to main content

Federal Legislation Relating to Settlements

Here is the latest Federal Legislation relating to structured settlements, Medicare Secondary Payer and Worker's Compensation settlements:

Federal Legislation and Regulation:
S. 3079, the “Medicare Secondary Payer and Worker’s Compensation Settlement Agreements Act of 2018,” is legislation introduced in the Senate by Senator Rob Portman, R-Ohio and Senator Bill Nelson, D-Florida that would negatively impact the use of structured settlements to settle Worker’s Compensation cases with CMS utilizing a Medicare Set-aside Account. The NSSTA Legs & Regs Committee is working on drafting detailed talking points for industry use on Capitol Hill to persuade Senators Portman and Nelson to drop this legislative initiative. The NSSTA Legs & Regs Committee plans to produce a report for members on S. 3079 and include the report in an upcoming edition of NSSTA News.

Federal Tax Reform Legislation—Part II: While there is considerable interest among major key Republican Members on the House Ways & Means Committee for a targeted Phase II Tax Reform bill to make the personal income tax changes passed in the 2017 Tax Reform bill permanent, there are a very limited number of legislative days remaining in the 2018 Session of Congress and action on a major tax bill is unlikely this year. There is a good chance the next Congress will revisit the 2017 Tax Reform bill and will make a number of technical corrections to that legislation. NSSTA will keep a very close watch on any tax legislation in Congress. CLICK HERE To view a copy of the House Ways and Means Committee “Tax Reform 2.0 Framework.”

CMS Liability MSA Developments: NSSTA is a member of the Liability MSA Stakeholders Working Group that has been organized to schedule meetings with CMS officials to highlight issues with proposed draft language regarding liability MSAs. Many members of the Liability MSA Stakeholders Working Group are also working to develop compromise solutions to major issues. The NSSTA Innovation Committee is working on the production of a “white paper” focused on how structured settlements could be effectively used to address the specific challenges confronting the P&C industry as it works to implement the new CMS Liability MSA Working rules.

 SOURCE: National Structured Settlement Trade Association (NSSTA) August 2018 News 

 We are Michigan's BEST and ONLY PLAINTIFF FOCUSED Financial and Structured Settlement Consultant

 www.whitehousellc.com 

Comments

Post a Comment

Popular posts from this blog

9/17/2023 Weekly Market Performance

  Here is our research department's Weekly Market Performance analysis.  If you have questions or need anything else please contact me at (734) 272-4322 or cyril.white@fourfinancial.com  U.S. and International Equities Markets Mixed The major markets ended mixed this week as the utilities and consumer discretionary sectors led while information technology lagged following Apple’s challenges in China.  Developed international equities posted solid gains this week as European stocks have witnessed their largest gain in six months after the European Central Bank (ECB) signaled an end to its hawkish monetary policy. Next Wednesday, the Federal Reserve meets concerning monetary policy and interest rates.  We believe the Federal Reserve should highlight underlying improvements within the inflation dynamic. In addition, we believe the Fed will not likely declare victory but will probably highlight the risks to growth and inflation are getting into balance. According to...
Post a Comment
Read more

The 4 Biggest 401(k) Rollover Mistakes

  By Cyril S. White, Certified Financial Planner™   As people transition from one employer to another, many are still uncertain about what to do with their 401(k) plan when they leave their employer. Here are 4 of the biggest mistakes you should avoid when considering what to do with your 401(k).   A plan participant leaving an employer typically has four options (and may engage in a combination of these options as well), each choice offering advantages and disadvantages.   1.      Leave the money in his/her former employer’s plan, if permitted; 2.      Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted; 3.      Roll over to an Individual Retirement Account (IRA); or 4.      Cash out the account value.  Each of these options can have a significant impact on your financial goals if not planned and implement...
Post a Comment
Read more

April 2025 Market Volatility Update

Hello! I hope you're doing well! Well, we continue to live in interesting times! M a r k e t s h av e c ont i n u ed t o m o v e s h a r pl y i n r e s p o n s e t o n ew l y an n o un c ed t a r i ffs an d g r o w in g c on c e r n s o v er g l o ba l t r a de. F r i d a y ’ s st eep s e l l o ff ex t e n ded in t o M o n d a y, w i t h v o la t ili t y rem ai n i n g e l e v a t ed ac r os s s e c t o r s a n d a ss et clas s e s. Th i s i s w hat w e c a l l a g ut c he c k m o ment. A t i me w h en t h e h e a d li n es feel l o u d. Th e n u m b ers feel sh a r p . A n d y o u r in st i n c t s m a y s t a rt t o q u e s t i o n y o u r pla n . Givin g a d vic e no t t o pa n i c d u r i n g s e v ere m a r k et d o w n t u r n s ca n feel a l i t t l e clic h é, b u t i t i s t h e m o s t i m p o r t a n t pi e c e o f f i n a n cia l a d vic e y o u ca n g e t . Please click on the video ico...
Post a Comment
Read more