How Does It Work?
A pooled income trust allows you to deposit excess income in a separate trust while still maintaining eligibility for Medicaid. The Medicaid application does not take the pooled income trust into consideration. In essence, it is protecting the profits you rightfully earned without affecting Medicaid coverage.
In addition, these earnings can be used to pay for other things in your life—like rent, food, and/or utility bills—rather than medical expenses.
Necessary Forms
- Joinder Agreement
- Power of Attorney
- Social Security Award Letter
- Guaranteed Funds
Care Without Compromise
Why do pooled trusts exist? A pooled trust saves the government money on hospital costs for older Americans and, at the same time, provides seniors with the option to receive care at home for as long as possible. It also gives you more control over your environment and your expenses.