A Pooled Income Trust is a supplemental needs trust that allows you or your loved one to receive or maintain Medicaid benefits even if you have excess income. At the same time, this trust preserves your monthly income to pay living expenses. Bound by federal and state regulations, member participation is safe and a legal remedy to acquire Medicaid Home Care Benefits.
In order to join a Pooled Income Trust, you must be a Medicaid recipient, and to join the KTS trust specifically, the beneficiary must also be a resident in the state of New York.
If you are applying for Medicaid but find you do not qualify for benefits, joining a Pooled Trust will help you gain eligibility by depositing excess income monthly into the trust. The income can then be used to pay your approved monthly expenses.
To qualify, the beneficiary (you or your loved one) must be 65 years or older, or have a disability as defined by the Social Security Act, the law that governs such requirements.
The trust account must be established by the beneficiary, their Guardian, or a Power of Attorney.
Your excess monthly income over the Medicaid income allowance must be deposited into your trust account.
A Pooled Income Trust pays qualifying monthly expenses and helps you to stay at home while receiving Medicaid Home Care Benefits. Without a Pooled Income Trust, an individual earning an income above the Medicaid allowable limits would have to turn over their excess income to Medicaid every month, and not be able to use it for their living expenses. When you deposit your excess monthly income into a Pooled Income Trust, you may become or remain eligible for Medicaid benefits. The money you deposit is used to pay for your basic living expenses, rather than turning it over to Medicaid as a spend-down.
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KTS actively safeguards seniors from pooled trust scams through several measures:
Dedicated KTS Pooled Trust Scam Assistance Line: 718.475.5000
Expert staff trained in pooled trust operations and common scam tactics
Immediate assistance in verifying communications and potential fraud
Targeted approach to scam prevention specific to pooled trusts
Clients can utilize these resources by contacting the assistance line for immediate support, guidance on discerning legitimate communications, and expert advice on protecting their pooled trust assets. This service reflects KTS’s commitment to both managing assets and ensuring client protection against fraudulent schemes targeting pooled trust accounts.
