Frequently Asked Questions About Pooled Trusts

Often those looking to qualify for Medicaid or other public benefits have monthly  income just above the Medicaid limit. Individuals or couples looking to quality for Medicaid are required to “spend down” their monthly income that is above this limit on health care expenses before being able to access Medicaid benefits.

A spend down to meet the Medicaid limit is often difficult if not impossible for people even if they are well above the Medicaid income limit due to other living expenses including housing, groceries, clothing, and costs for other basic needs. And, paying for medical care without insurance is often much to cost prohibitive. Therefore, many cannot afford the spend down or additional out of pocket medical expenses and that is where a pooled trust can help!

A pooled trust manages the excess monthly income and expenses of an individual to help them quality for Medicaid or other public benefits. Each individual member of a pooled trust has their own account that is used to pay for their sole benefits of regular monthly living expenses such as rent, mortgage, utilities bills, credit card bills as long as they are paid to a third party.

A pooled trust allows individuals to put their excess monthly income in a trust managed by a non-profit organization like BalancedCare that can be used for living expenses and non-covered medical expenses reducing their overall income, allowing them to be eligible for Medicaid.

The current allowable Medicaid income limit is $934.00 for an individual. This is subject to change yearly. Use our calculator to determine how much money you could preserve in a pooled trust.

Pooled trusts are administered by not-for-profit organizations like BalancedCare.

Individuals enrolled in a pooled trust through an organization like BalancedCare will identify eligible living expenses to pay through the trust. We will then work with you to set up monthly automatic payments for these living expenses by the pooled trust. Your monthly income will be reduced by the amount put into the pooled trust which is being used to pay your set monthly expenses, thereby making it easier to be eligible for Medicaid or other public assistance programs.

To be eligible for a pooled trust, an individual must be determined to be disabled and a Medicaid recipient or looking to become a Medicaid recipient by using a pooled trust to reduce their income. To use a BalancedCare pooled trust you must be a resident of New York State.

Yes! Fees from non-profit administrators of pooled trusts can vary. If you’re a resident of New York State, contact us to find out more about our pooled trust program.

The money that is put into a pooled trust can be used to pay for living expenses such as rent, mortgage, utilities bills, credit card bills. You will need to complete a disbursement request form and submit an invoice for payment to the trust. Payments are made directly from the trust to the landlord or third-party.

Absolutely! Many clients find that the combination of both these services ensures their loved one's affairs are more completely covered, giving them total peace of mind.

Certainly. In fact, many attorneys have found our favorable fee, our disciplined financial backend systems, our stellar reputation with the Veterans and Social Security Administrations, as well as our personal professional expertise and support along with our client portal to view account activity, real advantages when setting up their clients accounts with BalancedCare.