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Trade Publication Article
Financial Planning for Families With Disabilities
2024
Overview
More than a healthcare program for people with low incomes, Medicaid is not only the nation’s primary health insurance program for people with disabilities but also a ticket to numerous services for individuals with disabilities and their families. Most people understand Medicaid as a health care benefit for low-income people. To receive SSI benefits in New York, an individual may not have more in countable resources than $2,000 or gross income from work that exceeds $1,913 per month. [...]Pooled Income Trusts, like Special Needs Trusts, are irrevocable; contributions cannot be reversed. [...]a payback provision means that upon the beneficiary’s death, any funds remaining in the trust (up to the total lifetime medical assistance paid on behalf of the beneficiary) must be turned over to the Medicaid state that provided benefits.
Publisher
Informa
Subject
