Medicaid Qualifying Trust

What Does Medicaid Qualifying Trust Mean?

A Medicaid Qualifying Trust is a type of trust that individuals can use to help them become eligible for Medicaid. These trusts are beneficial for individuals whose income exceeds the threshold for Medicaid eligibility. Income deposited into a Medicaid Qualifying Trust is excluded from the calculation of general income totals.

Insuranceopedia Explains Medicaid Qualifying Trust

Medicaid Qualifying Trusts can reduce the amount of income considered for eligibility, helping individuals qualify for Medicaid. However, setting up such a trust requires strict compliance with all Medicaid regulations.

There are limitations on how the funds in Medicaid Qualifying Trusts can be used. Typically, these trusts are utilized to cover Medicaid-related expenses, such as costly medications or treatments.