What is a Medicaid pool trust? And how does it benefit me?

If you’re over the age of 65 and trying to explore ways to receive home medical care and stay in your own home instead of moving to assisted living, Medicaid can help you do that. However,

Medicaid benefits for home care are complicated, and if you make over the Medicaid income threshold, your state’s Medicaid office may deny your application or ask you to forfeit any money that exceeds the maximum threshold to them.

Chances are, especially if you have medical issues, you can’t afford to give away your excess income to qualify. Instead, you should consider an account like KTS Pooled Trust to add your excess income to a Medicaid sheltered account.

A Pooled Trust Will Get You Accepted for Medicaid

When you contact a pooled trust, an expert will help you determine how much over the maximum income threshold you are making per month. They will then quote you an estimate of how much income you would need to place in a pooled trust every month to qualify for Medicaid.

Medicaid applications can be difficult and time-consuming, but the pooled trust experts can help you with the application and advise you on how to obtain the required supporting documentation, like your medical records. They will then package your application along with your pooled trust information and send it to Medicaid.

Add to Your Pooled Trust Every Month to Pay Your Bills

After you’ve started using a pooled Medicaid trust to receive Medicaid benefits, you must continue to contribute your excess income to that account each month, or Medicaid can revoke your benefits or collect your excess income. The process is simple. Once you know how much you need to contribute to your pooled trust monthly, you can move that money to your account online or by writing a check.

Likewise, when you’re ready to use your trust to pay for qualifying expenses like utilities and healthcare, you can pay directly out of the trust, and use it like any other bank account.

Joining a Pooled Trust Should Be Simple and Straight Forward

You should ensure that your pooled trust company has your best interests at heart and amazing customer service to guide you at every step of the process. The whole process should mean just a couple applications for you, one to join the trust and one for Medicaid. Your pooled trust should have plenty of options to add your money to your account and retrieve it later for expenses. Although the overall process of joining a pooled trust to receive Medicaid feels complicated, a good pooled trust provider will prevent you from feeling that.

Join a Pooled Today to Get the Home Care You Need

It’s never too early to contact a pooled trust provider and learn your options. You’re under no obligation when you call other than to learn whether you make an income that would benefit from creating a trust and starting a Medicaid application. If you’ve been stressing about how to get the home care you need to stay in your home, a pooled trust is a great option to explore.