Step-by-step guide to enrolling in a pooled income trust for Medicaid spend-down: Sources of Legal Authority for Health Care Advocates Excess Income Trusts in New York Dedicated Elder Law Attorney Serving New York. Provide information and documents according to New York state requirements. Joining a Pooled Trust can help with your Medicaid income eligibility requirements. Hundreds of individuals in our trust have avoided nursing home placement using this program. On December 18, 2017, Governor Andrew Cuomo signed A.5175-A into law! Any trust assets distributed to the disabled individual are counted as income. Those who are attempting to preserve the assets they have worked hard to obtain are wise to seek the counsel of an experienced New York Medicaid planning/asset protection attorney. An "irrevocable" trust is one that cannot be changed after it has been created. Preserving Income with Medicaid Pooled Trusts. Medicaid considers the principal of such trusts (that is, the funds that make up the trust) to be assets that are countable in determining Medicaid eligibility. List of Pooled SNTs in New York State: Advocate's Outline on Supplemental Needs Trusts and Rules for Impact of Lump Sums on Various Benefits: How to use a pooled SNT to eliminate the Medicaid spend-down. Medicaid allows only $825 of monthly income for an individual ($1209 for a married couple). Pooled Trust for Medicaid Income Spend-down NYSARC’s Community Trust II is a pooled supplemental needs trust that allows people with disabilities and disabling chronic health conditions to qualify for Medicaid to receive community health benefits and long-term care services. In simple terms, with Pooled Income Trusts, one’s excess income (the income over the long-term care income limit) is deposited into the trust, no longer counting towards Medicaid’s income limit. The purpose of the Pooled Trust is to provide individuals with disabilities an alternative to the Medicaid “spend down” of sending in their excess income to their county DSS. Income trusts are a type of special purpose trust that can be helpful to Medicaid applicants in states that have a set income limit for qualifying for Medicaid, such as Texas and Arizona. SUBJECT: Pooled Trusts and Disability Determinations for Individuals 65 Years of Age and Over SUGGESTED DISTRIBUTION: Medicaid Staff Fair Hearing Staff Staff Development Coordinators CONTACT PERSON: Upstate: Local District Liaison (518) 474-8216 NYC: (212) 417-4500 ATTACHMENTS: Attachment I – Transmittal Sheet – Disability Determination Request form (DSS-654 Rev. A; A; A; Justin Young . Through this program Trust members would send their “spend down” to the trust and the Trust will pay for bills that are for the benefit of the trust consumer. Call us for more information. So moving your $50,000 into a Pooled Trust enables you to meet Medicaid asset requirements, and assuming you otherwise qualify, you could begin receiving Medicaid immediately. The $20 per month fee to be in CDR’s Pooled Trust is the most cost-effective Medicaid Trust option available to seniors and people with disabilities. Pooled Trusts are managed by nonprofit organizations that combine ("pool" together) funds from many disabled individuals, and use the combined fund to pay those individuals back in small amounts over … 18 NYCRR § 360-4.5(b)(5). Medicaid is a safety net for millions of senior citizens across the country, providing funding to pay for home care, adult day care, or prescription drugs. In New York City and other NYS Counties, Medicaid imposes limits as to how much income and resources a disabled person is allowed to receive and retain, and still be eligible for Medicaid Medical assistance. Verification that the income was placed into the trust is required. Pooled Income Trusts are only allowed in a handful of states, two of which are New York and Connecticut (New York and Connecticut do not permit Miller Trusts). Transferring your assets into a trust can make them non-countable for Medicaid eligibility, although they could be subject to the Medicaid look-back period if the trust is set up within five years of your Medicaid application. When a Medicaid Applicant chooses to deposit their excess income, or income “spend down,” with a pooled income trust, the Applicant, though technically losing control of this money, asks the trust to use the money deposited to offset and pay for the Applicant’s monthly living expenses (cable, internet, phone, electricity, gas, rent, mortgage, taxes, etc.). The Pooled Income Trust, which are established and managed by non-profit organizations for the benefit of the disabled beneficiaries. Establishing a LIFE Medicaid pooled income trust is the best way to qualify to receive Medicaid services and shelter your income. by Ettinger Law Firm. UCS Disability Pooled Trust. However, if your income level is above that limit, you can establish a New York Pooled Income Trust to shield your excess income above that $850.00 limit and still qualify for NY community Medicaid, which will entitle you to an aide in your own private home which is paid for by the NY Medicaid program and not by your private assets or income. This trust is bound by all Federal and Medicaid laws and regulations. Why should I join a Pooled Trust? Western New York Coalition Pooled Trusts The WNY Coalition Pooled Trust is a collaboration between Center for Elder Law & Justice, People Inc., and Key Bank. SUPPLEMENTAL NEEDS TRUSTS IMPACT ON MEDICAID AND OTHER PUBLIC BENEFITS by VALERIE J. BOGART, ESQ. A Pooled Trust protects surplus income over the Medicaid Income Allowance for individuals or couples so the surplus can be used toward shelter expenses rather than paid to Medicaid every month. Medicaid will not count the assets in a special needs trust or pooled trust if it meets the described criteria. Our Pooled SNT can take deposits of assets or income. We work with patients and caregivers, as well as attorneys, discharge planners, and community social workers to resolve and process Medicaid and home care related issues. LIFE, Inc Pooled Trust. The budget creates significant changes to the Medicaid program that will greatly impact the lives of many NYS residents. LCG Community Services, Inc. Life’s WORC Trusts. The trust provides that, upon the death of the disabled beneficiary, if there are funds remaining in the beneficiary's subaccount, the trust must pay to the state an amount up to the total amount of Medicaid assistance provided to the beneficiary, to the extent that the funds are not retained by the trust. We have years of experience helping clients access Medicaid services in New York State. The good news is that in New York we can use a Pooled Income Trust. Individuals receiving only Community Medicaid may be able to place their Medicaid monthly spenddown into a Pooled SNT and retain their Medicaid benefits. In New York State, you can deposit your income spend-down, or "surplus" income, into a pooled trust. The Theresa Foundation Pooled Trust of New York is a special type of trust that allows a beneficiary of any age to become financially eligible for public assistance benefits, such as Medicaid home care, while preserving their monthly income in trust for living expenses and supplemental needs. What is a pooled-income trust, and how does it apply to a Medicaid home-care and/or Community Medicaid recipient in New York State? 1/05) FILING … The Theresa Foundation Pooled Income Trust of New York is a special type of trust that allows a beneficiary of any age to become financially eligible for public assistance benefits, such as Medicaid home care, while preserving their monthly income in trust for living expenses and supplemental needs.The Center for Special Needs Trust Administration, Inc. A pooled income trust is an option for an elderly person who is receiving Medicaid who has excess income. In New York there are two “exception trusts” which contain the assets of a person with a disability: an individual “payback” trust established for a disabled person under the age of 65 and a “pooled” trust established for a disabled person of any age. A pooled income trust allows individuals to preserve their trust resources for living expenses while remaining eligible for public assistance benefit programs like Medicaid. Keep Them Safe Pooled Trust. When you apply for Medicaid, ... For example, if you earn more monthly income than what is allowed by Medicaid, you can join a Pooled Income Trust to get qualified. Homecare Planning Solutions is a free resource serving the elderly and disabled of New York. The Rose and Maurice Halpern Lifetime Care Foundation at OHEL. With respect to a third party pooled trust, there is no requirement to reimburse Medicaid with funds remaining in a pooled third party trust, although some portion may still revert to the administering nonprofit. Deposits and recurring payments can be set up for regular monthly payment, and every transaction is reviewed a second staff person to ensure to accuracy of your payment. A Medicaid Asset Protection Trust is a device that can be used for many purposes including, most importantly, the protection of assets if and when the creator of the trust needs to apply for Medicaid. If you are seeking or currently receiving Medicaid and make more than the allowed income, you may be at risk of losing income to your long term care. Income-only trusts. Volunteer Attorney MARIE VAZ Staff Attorney Evelyn Frank Legal Resources Program New York City DAVID SILVA, ESQ. Learn more. Call 518-320-7100 . Anything above that amount is considered “surplus” income. Each month the Medicaid recipient deposits excess income into … The Medicaid recipient may then use the remaining trust assets (in their fbo trust account) to pay qualified expenses such as rent, deductibles, etc. The trust will charge a percentage of that money (now an asset of the trust) as their fee. Medicaid will not count the assets in a special needs trust or pooled trust if it meets the described criteria. Former Assistant Director EFLRP Current Director ICAN, CSSNY 39 The pooled trust should be irrevocable to avoid being treated as a resource. KTS’ Medicaid Pooled Income Trust is a supplemental needs trust available to New York state beneficiaries. Director RONALD C. MAYER, ESQ. A Pooled Income Trust is a unique type of trust operated by a federally approved 501(c) (3) that allows disabled individuals of any age to preserve their income and assets, so that they may become or retain financial eligibility for public benefits such as Medicaid Home Care. This is a significant victory for the entire Disability Community of New York State because the State Health Department will be required to inform consumers of all options available to them in order to be Medicaid qualified! It may be in your best interest to discuss these and other Medicaid planning options with an elder law attorney in your state. UJA-Federation Community Trusts. Income directly diverted to one of these types of trusts or received and then placed into the trust is not counted as income. These trusts are operated by certain nonprofit organizations such as Life, Inc., United Community Services Disability Pooled Trust (UCS Trust Services) and NYSARC. Why a Pooled Trust? It allows Medicaid recipients to avoid having to spend-down their excess income in order to qualify for benefits including home care. The New York State (NYS) Legislature passed the Fiscal Year 2020-2021 budget on Friday, April 3, 2020. Pooled Trust Notification Becomes New York State Law. This type of trust is distinct from other irrevocable trusts in that the creator of the trust cannot have access to the principal of the trust. the trust must include language specifying that upon the death of the individual, funds not retained by the non-profit organization will go to the state, up to the amount of Medicaid paid out on behalf of the individual. 04. NYSARC, Inc. Trust Services. Thus, revocable trusts are of no use in Medicaid planning. No personal assets go into such a trust, only excess income. Join a Pooled Trust. Step. The use of a pooled trust is just one step towards planning for Medicaid. CDR’s Pooled Trust is accurate! Access to professional trustees is one of the top reasons that pooled trusts are chosen. The Theresa Foundation Pooled Trust of New York. This allows a Medicaid applicant to deposit excess income (any amount over the $895.00 in 2020) into a Pooled Income Trust. 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