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ChatGPT Discusses Qualified Settlement Funds (QSFs)
Company NewsIndustry NewsFebruary 28, 2023by Patrick Hindert

ChatGPT Discusses Qualified Settlement Funds (QSFs)

Introduction ChatGPT is a chatbot developed by OpenAI and launched in November 2022. You can access a trial version for free. Continuing a structured settlement discussion with Independent Life, ChatGPT responded to our questions below about Qualified Settlement Funds (QSFs)  as well as more general questions about Structured Settlements in this prior Independent Life article. *Independent Life does not...

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Assignment of Rights or Delegation of Duties?
Settlement PlanningIndustry NewsStructured SettlementsFebruary 17, 2023by Patrick Hindert

Assignment of Rights or Delegation of Duties?

Introduction A single structured settlement often involves multiple areas of law – including tort, tax, contract, Social Security, insurance, to name just a few. Sometimes laws impacting a structured settlement not only overlap but also conflict thereby creating potential problems and/or confusion. For example, although structured settlement periodic payments generally are excluded from federal income...

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Achieving and Sustaining Structured Settlement Growth
Company NewsIndustry NewsJanuary 19, 2023by Patrick Hindert

Achieving and Sustaining Structured Settlement Growth

Premium Success in 2022 Propelled by record fourth quarter production exceeding $2 billion of annuity premium, which surprised many industry participants including this writer, 2022 structured settlement annuity production currently is estimated to have exceeded $6 billion. Congratulations to structured settlement professionals, annuity providers and other industry stakeholders who contributed to this success! As an...

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Medicare Set-Aside Arrangements
Government BenefitsIndustry NewsDecember 21, 2022by Patrick Hindert

Medicare Set-Aside Arrangements

Introduction How strategically important are Medicare Set-Aside (MSA) arrangements for the structured settlement market – and what is the current size and the future potential of this structured settlement submarket? Historically, the exact size of the structured settlement MSA market has been impossible to measure and difficult to estimate. The structured settlement industry reports annuity...

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Liability Medicare Set-Aside Arrangements
Industry NewsUncategorizedDecember 1, 2022by Patrick Hindert

Liability Medicare Set-Aside Arrangements

Introduction and Background Unlike Workers Compensation Medicare Set-Aside (WCMSA) Arrangements, which Independent Life has written about in two prior articles (Part 1) and (Part 2), almost no regulatory authority exists for Medicare set-aside arrangements (MSAs) in third party liability settlements. The Medicare Secondary Payer (MSP) Act, enacted in 1980, requires certain insurers, including liability, automobile,...

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Workers Compensation Medicare Set Aside Arrangements – Part 2
Government BenefitsIndustry NewsUncategorizedNovember 1, 2022by Patrick Hindert

Workers Compensation Medicare Set Aside Arrangements – Part 2

Introduction Medicare Secondary Payer experts, including structured settlement and settlement planning professionals whose practice regularly focuses on Medicare Set Aside (MSA) Arrangements, have spent the past couple of weeks analyzing how a recent announcement by the Centers for Medicare and Medicaid Services (CMS) will impact liability MSAs. On October 13, 2022, without explanation, CMS withdrew...

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      Any discussion of taxes herein is for general informational purposes only and does not purport to be complete or cover every situation. Independent Life, its affiliates, its distributors, and its and their respective representatives do not provide tax, accounting, or legal advice. You should confer with your qualified legal, tax and accounting advisors based on your particular circumstances. All guarantees are obligations of Independent Life Insurance Company.