For New York residents with disabilities, access to public benefits can be of upmost importance. Special Needs Trusts and Pooled Income Trusts can help individuals maintain eligibility for Medicaid and Supplemental Security Income (SSI). Both Medicaid and SSI have strict asset requirements so, when a beneficiary comes into new resources, he or she must handle them in a way that will not hinder their eligibility to these services.
Once an individual places their income into a trust, he or she can submit any non-medical bill to it that is in the participant’s name. This includes items such as rent, power, telephone, cable, auto insurance, credit cards (for new charges only), food shopping receipts, etc. The trust will then pay the bill directly on the person’s behalf. Unlike individual disability trusts, which may be created only for those under age 65, pooled trusts may be for beneficiaries of any age and can be created by the beneficiary.
P & P Medicaid handles Special Needs Income Trusts in order to allow you to reduce monthly income overage. For more information regarding this or any of our other services in Suffolk County, Nassau County or Queens, please contact us at 516-541-4770 or by email.