Pooled Income Trusts Explained

Summary

Pooled Income Trusts can be used for Medicaid eligibility in New York. They allow excess income to be deposited for personal needs and are managed by non-profits. To qualify, you must be disabled or over age 65. This is based on Social Services Law section 366, subdivision 2(b)(2)(iii)(B). For more details, consult a local attorney.

Full Conversation

I have a question about Pooled Income trusts being used for medicaid eligibility
Sure, ****. Pooled Income Trusts can indeed be used for Medicaid eligibility in New York. Here are some key points:
- They allow excess income to be deposited, which can then be used for the beneficiary's personal needs.
- They can help maintain Medicaid eligibility.
- They're managed by non-profit organizations.
Would you like to know more about how they work?
in nys, do you have to only be disabled to use a pooled income trust to qualify or do you also have to be above age *
In New York State, to qualify for a Pooled Income Trust, you need to be either:
- Disabled (as defined by Social Security standards)
- Or over age *
So, you don't necessarily have to be above age * if you're disabled.
do you have evidence of this
Sure, the information is derived from the Social Services Law section *, subdivision *(b)(*)(iii)(B) of the New York State which specifies the requirements for a Pooled Income Trust. For more detailed information, you may consider contacting a local law office or legal aid service.