When a member's CareGuard account earns interest, that interest is subject to federal taxes, similar to any other bank account interest. If the account earns more than $10.00 in interest, the member will receive a 1099-INT form.

 Using MSA Funds for Tax Payments

Members with a Medicare Set Aside (MSA) account have the option to use these funds to cover taxes on the interest earned by their CareGuard account, as permitted by Medicare guidelines.

 Details on Taxation and Reporting

It’s important to note that federal taxation applies to the interest earned on any account, including CareGuard accounts. The 1099-INT form will reflect the amount of interest earned and helps ensure accurate tax reporting.

For more complex inquiries or specific guidance on managing your CareGuard account and handling taxes, it is recommended to consult the appropriate reference materials or a tax professional.

You cannot withdraw money from your CareGuard account on demand. The account contains your medical funds from your settlement and is established per your settlement agreement's terms.

Conditions for Withdrawing Funds

In certain situations, you may be allowed to withdraw funds from your CareGuard account. However, specific conditions must be met, as outlined in your settlement agreement.

When Withdrawals Are Not Permitted

There are instances where withdrawing funds from your CareGuard account is not allowed. It is crucial to understand these restrictions to manage your account effectively.

Contact Care Advocate Team for Assistance

To learn more about possible deposits or withdrawals from your CareGuard account, it is best to contact our Care Advocate team. They can provide detailed guidance tailored to your settlement terms.

For further and detailed information, or if you have questions, please reach out to our support team.

You have the flexibility to treat with any doctor or pharmacy of your choice when using CareGuard. They do not need to be part of our network for you to access CareGuard services and potentially benefit from discounts on healthcare expenses.

Choosing a Doctor or Pharmacy

With CareGuard, you aren't restricted to a specific network. This allows you to select healthcare providers that best suit your personal needs.

Benefits of Using CareGuard Network Providers

While it's not mandatory to use CareGuard’s network providers, many members opt to do so to maximize savings on every visit. Using network providers often results in significant cost reductions.

Final Details and Savings Potential

To fully understand the savings opportunities with CareGuard, consider reviewing your healthcare plans and options. If more information is needed, refer to our detailed guidance included with CareGuard's resources.

With your CareGuard membership, you're free from utilization reviews. This means that most of the time, as long as your treatment is related to your Medicare Set Aside (MSA) claim and is covered by Medicare, it will be taken care of. In some cases, there are no restrictions on your covered treatment's scope, leaving your treatment plan primarily between you and your doctor.

How CareGuard Membership Affects Treatment

With CareGuard, the focus is on granting autonomy in your treatment choices, letting you bypass typical utilization reviews that might otherwise limit your care.

Covered Treatments and Expenses

Your treatment expenses are generally covered if they relate to your original claim and meet Medicare's coverage criteria.

Are There Any Limitations on Covered Treatments?

In certain situations, your CareGuard membership might offer a treatment plan without limitations, supporting a wide range of covered options.

After settling your case, the carrier or employer no longer has any input into your treatment decisions.

Post-Settlement Treatment Management

Once a settlement is reached, you gain the autonomy to manage your treatment without influence from your employer or insurance carrier. It's important to consult with your healthcare provider to ensure you are receiving appropriate care tailored to your needs.

Why Is Employer Input Not Permitted?

Following a settlement, the legal and financial responsibilities shift, removing the carrier or employer from any decisions regarding your treatment. This change is designed to focus your care on medical necessity rather than financial considerations.

What Should I Do After the Settlement?

• Consult Your Doctor: Regularly discuss your ongoing needs with your healthcare providers.
• Understand Your Benefits: Familiarize yourself with any coverage or benefits you have after settlement, such as Medicare or private insurance.

Understanding the landscape of your medical treatment post-settlement empowers you to take charge of your health decisions without external interference.

As a CareGuard member, you always have full visibility into your account activity and savings with your CareGuard Member Portal.

To sign up for the CareGuard online portal, follow these simple steps:

1. Visit my.careguard.com and select Register.
2. Enter your email, member number (found on your CareGuard card), name, password, and phone number.
3. Once logged in, you will see your personal dashboard. Your dashboard will provide a summary of recent medical expenses and navigation to helpful tools.

Using your CareGuard card is simple and straightforward. Just present it at the check-in when visiting a doctor or pharmacy, and your bills will automatically be processed by our Care Advocate team. The CareGuard card functions similarly to a traditional insurance card. It’s designed for easy use, ensuring you have a hassle-free experience at medical facilities.

Benefits of Using the CareGuard Card

There are no co-pays required when using your CareGuard card. Once the bill is received, we will apply any network savings and handle the payment on your behalf.

Understanding the Care Process

For additional information on how our Care Advocate team operates and what to expect after your bill is processed, refer to the instructions mailed to you with your card or our online Welcome to CareGuard page.

By following these steps, you ensure that your medical bills are managed efficiently with minimal effort on your part.

The CareGuard card is not a debit card; it functions similarly to a traditional insurance card. It is used primarily to inform doctors and pharmacies that bills should be sent directly to CareGuard, rather than for direct withdrawals or purchases.

How to Use the CareGuard Card

The card is designed to streamline medical billing, allowing healthcare providers to send bills directly to CareGuard. This ensures that your medical settlement funds are utilized according to the settlement terms.

Accessing Your Medical Funds

It's important to note that you cannot access or withdraw money directly from your CareGuard account on demand. The account is structured to hold your medical funds as specified in your settlement agreement, ensuring they are available for their intended purpose.

When to Contact Care Advocate Team

For any questions about deposits or specific withdrawals from your CareGuard account, you should contact our Care Advocate team. They can provide detailed information and assistance tailored to your individual situation.

By understanding the specific functionality of the CareGuard card, you can effectively manage your medical funds and adhere to the agreements set in your settlement.

If you've incurred any covered out-of-pocket expenses due to your injury, you can be reimbursed by simply submitting a receipt.

Submitting Receipts for Reimbursement

Receipts can be submitted through your CareGuard member portal. Alternatively, you also have the options to fax or mail them for review.

What Expenses are Eligible?

To ensure a smooth reimbursement process, make sure the expenses are directly related to your injury and are covered by Medicare.

Need More Information?

For further details on how to submit receipts or what qualifies as a covered expense, refer to your CareGuard member portal or contact their support.

After you settle your case with Ametros' CareGuard service, our Care Advocate team will guide you through the onboarding process. We will set up your account, explain how it works, and gather necessary medical information, such as your doctor and pharmacy details.

Setting Up Your CareGuard Account

Our team will contact your doctors and pharmacies to inform them about your partnership with CareGuard, ensuring they can bill us directly. You'll receive a welcome package, including your CareGuard card, in the mail. This card allows you to access medical services without a copay since all bills get directed to CareGuard. 

How CareGuard Manages Your Medical Bills 

CareGuard's role includes reviewing your medical bills for accuracy and applying discounts to reduce them whenever possible, before paying them from your account. This ensures that all transactions are handled smoothly and without financial strain on your part. 

Complying with Medicare Set-Aside 

If you have a Medicare Set-Aside (MSA), CareGuard will manage all necessary reporting to Medicare. This guarantees your compliance with federal regulations and protects your existing benefits. 

Conclusion: Understanding CareGuard's Comprehensive Service 

For any complicated inquiries or further information on Medicare Set-Aside or CareGuard's services, it's recommended to refer to official guides or reach out to our support team. 

In the unlikely event that Ametros goes out of business, your CareGuard account remains secure because it is established for your benefit in a custodial account at Ametros’ parent company Webster Bank, N.A. and is designed to qualify for FDIC pass-through insurance.

FDIC insurance protects against the loss of deposits due if an FDIC-insured bank fails. Ametros itself is not an FDIC-insured institution. Only the funds deposited within Webster Bank, N.A. are eligible for FDIC insurance. Eligibility for pass-through deposit insurance coverage up to applicable limits is subject to fulfilling specific conditions.

For more specific details about CareGuard accounts and their structure, feel free to reach out to Ametros directly or consult with a financial advisor for personalized guidance.

Unused funds at the end of the year will not go to waste. Instead, they will remain in your account and automatically roll over into the next year.

How Do Unused Funds Roll Over?

When you have remaining funds, these are carried forward, allowing you to continue utilizing them in the future. There is no penalty for not using all of your funds within the current year.

Is There a Limit on Rollover Funds?

There is typically no limit to the amount that can roll over, but it can vary depending on specific account terms. It’s important to review your account details or contact your account provider for specifics about rollover limits or restrictions.

Need More Information?

For more detailed information on unused funds and account specifics, you may want to consult the official guidelines provided by your account service or reach out to customer support for tailored guidance.