Under current Medicaid laws, monthly income in excess of the Medicaid monthly income allowance must be spent down on medical or home care services before Medicaid will provide coverage.
Since “excess” income each month cannot be spent on living expenses such as food, clothing, and utility services, many Medicaid recipients will not have sufficient income to pay their normal monthly living expenses.
The utilization of the Pooled Income Trust will enable the Medicaid recipient to preserve his or her “excess” income in trust for payment of ongoing living expenses. These expenses include, but are not limited to, cable, utilities, telephone, income taxes and property taxes. Additionally, you can use the funds for medical services not otherwise covered by Medicare or Medicaid.
The team at Ansanelli Law Group, LLP will develop a plan specially tailored to meet your needs.