Social Security Benefits and Structured Settlement Payments?

Question

My sister is disabled and receives a social security benefit (SSDI) check each month. She also receives a check monthly from an insurance company due to a car accident she was in a few years back. That is her only income. She qualifies for and uses Medicare.

She wants to get a lump sum payment from her structured settlement payments and use that to pay off bills etc.

Will getting all that extra money automatically disqualify her from getting Medicare and SSDI?

Answer 1

No the payments should not hurt her. But its always good to speak with an accountant. Also, the lump sum of cash that she wants for her structured settlement should not be taxed, check out www.olivebranchfunding.com FAQs section or call 877-844-5445. If the process is done through court its considered  a qualified transfer and not taxed.