Author: Stefans Law Group, PC
Elder Law :: Estate Planning :: Income Tax Services
Do you or a loved one need long term home care services? Are you considering applying for Medicaid? Do the income qualifications for the Medicaid home care program deter you from utilizing Medicaid home care services? If this is the case then a Pooled Income Trust is an option you may wish to consider to protect your excess income, while still allowing you to qualify for Medicaid coverage.
A Pooled Income Trust is part of a long term care plan that is essential to anyone who requires Medicaid services but is ineligible because of surplus income. Contributing those excess funds to a Pooled Trust is a win-win scenario because during your life you are still entitled to receive the benefits of your income, and after your life you are contributing to provide for others with such disabilities who are in need of assistance. Read More
Currently, in New York, to be eligible for Medicaid services you can retain no more than $787/month in income (plus the cost for health insurance premiums) and have $13,800 in resources.
As always please feel free to contact our firm, Stefans Law Group, PC at (516)692-2744. We welcome the opportunity to assist you. We offer services including planning for your health care needs, as well as, preparing and filing your Medicaid and Pooled Income Trust Applications. We look forward to hearing from you soon!
