Regency Nursing and Rehabilitation Center

UPDATE! NEW VISITOR POLICY & CORONAVIRUS PREPAREDNESS - CLICK HERE TO READ

Monday, 31 August 2015 20:12
Rate this item
(1 Vote)

How Income Trusts / 'Miller Trusts' Work

 

 

Income trusts are created for the specific and expressed purpose of helping the individual qualify for Medicaid under his/her specific State mandated criteria.

 

This trust is especially helpful and, indeed, vital in states that have a set income limit for qualifying for Medicaid. Sometimes referred to as Qualifying Income Trusts, or “Miller Trusts” (based upon a singular court case with the same name), they are used when a Medicaid applicant has income in excess of the required cap and is therefore not eligible for Medicaid, yet concurrently unable to pay privately for nursing home care.

 

 

How the Income Trust Works

 

 

With an income trust, a significant portion of the money that comes through the trust goes right back out to pay Medicaid for part of the expenses associated with the plan of care.

 

It bears mentioning that a qualified income trust doesn’t protect income for the Medicare applicant, however without such an income trust the applicant wouldn’t qualify for Medicaid altogether.

 

For example, if a Medicaid applicant gets a Social Security check for $2,800 but the income cap is $2,100, the applicant wouldn’t qualify for Medicaid. But if the Social Security check is direct-deposited into an income trust, the applicant will qualify for Medicaid, even though much of the $2,800 will be used to pay the applicant’s portion of cost for long-term care.

 

It is also important to note that Medicaid includes and incorporates gross income into their eligibility criteria, which includes the Medicare Part B premium (typically deducted from the individual’s Social Security checks.)

Judah

The Regency organization has become synonymous with the best in senior healthcare and has garnered a well deserved reputation for its unsurpassed commitment to its patients and residents.

The Regency Nursing and Rehabilitation Centers and Facilities throughout New Jersey have achieved numerous industry ‘gold standard’ benchmarks and have received accolades from all corners of the HealthCare community.

Welcome to our website at www.RegencyNursing.com!

Warm Regards,

Judah

Leave a comment

Make sure you enter the (*) required information where indicated.
Basic HTML code is allowed.

alzeimers in seniors alzheimer's awareness alzheimer's in seniors alzheimers disease anchor nursing or regency park hazlet nj anchor rehab in hazlet nj bayshore healthcare and bayshore hospital bayshore healthcare center address bayshore healthcare center information bayshore healthcare center ratings bayshore healthcare center reviews bayshore healthcare center vs regency park bayshore healthcare reviews best nursing homes in new jersey cardiac rehabilitation near bayshore hospital chronic nonhealing wounds seniors elderly chronic pain chronic venous insufficiency clinical trials conversation starters covid19 5star nursing homes cvi exercising for pain relief family medical history flu season flu shot 2018 Genetic tests FDA haelthy diet Heart & Lung Center holiday season hospice facilities in nj Hospice Medicare Inadequate sleep pain judah gutwein medicare advantage medicare coverage medicare information medicare open enrollment 2019 medicare prescription drug coverage nj meridian hospital in holmdel meridian subacute facilities My Family Health Portrait nj insurance plans nursing home ratings during covid19 pain management post acute rehab pulmonary rehabilitation near bayshore hospital regency cardiac rehabilitation Regency Gardens regency gardens in wayne regency gardens postacute rehabiliation nj REGENCY GARDENS WAYNE NJ regency grande in dover regency grande postacute rehabiliation nj Regency Heart and Lung Center regency heritage regency heritage demott lane regency heritage in somerset regency heritage in somersetwoods regency heritage postacute rehabilitation nj regency heritage somerset regency jewish heritage regency jewish heritage, somerset nj regency jewish heritage reviews Regency Nursing and Rehabilitation Center regency nursing and rehabilitation nj REGENCY PARK regency park hazlet regency park hazlet nj regency park in hazlet regency park near bayshore hospital regency park nursing REGENCY PARK NURSING CENTER regency park nursing home in hazlet regency park postacute rehabiliation nj regency park rehabilitation center regency postacute rehabilitation rehospitalizations senioradvisorcom senior aging articles Senior Care senior healthcare senior health information seniors seniors and the holidays seniors living alone senior wellness somersetwoodsnj somerset woods nursing and rehabilitaion somersetwoods nursing center, somerset nj somersetwoods rehab somersetwoods rehabilitation and nursing in smerset subacute care nj subacute rehabilitation subacute rehabilitation nj telemedicine at elms of cranbury tips for caregivers tips to prevent the flu Vascepa heart disease winter safety

Comments


Search | Privacy Policy | Terms of Use | Site Map | Glossary of Terms | Contact Us | Regency Post-Acute, Rehab & Nursing Centers | LTC Website Solutions © 2014 | All rights reserved.