Why an individual with a Medicaid Spend-down should join a Pooled Trust.
Q: what is a Pooled Trust?
Individuals who earn too much money to qualify for Medicaid can put the extra money {aka Medicaid Spend-down} into a special trust where the money is not counted against the person when applying for Medicaid and can be used to pay Bills or any living expenses like Rent/Mortgage, groceries etc.
Q: Who are we
Everfund Trust is a non-profit organization who administers a special trust maintained by Citi Bank allowing individuals with disabilities to “pool” their money together. Although the funds are pooled together Everfund maintains individual sub-accounts for each person in the trust.
When joining Everfund, you will be assigned a case manager. We will come down and help you fill out the paperwork in the convenience of your own home to address any questions or concerns.
Q: is it legal?
Yes. Supplemental Needs Trusts is frequently used since 1993 when Congress created an exception under the amendments to the Omnibus Budget and Reconciliation Act (OBRA-93) which authorizes the use of SNT’s for the benefit of individuals who are under the age of 65 and disabled or seniors. Pooled income Trust is authorized by 42 U.S.C. § 1396p (d)(4)(C) and is available for people with disabilities of any age.
DISCLAIMER:
"Enrollment is not guaranteed, results may vary. There is a 45 to 90 days processing period. Medicaid Pooled Trust services & Medicaid application elegibilty process is provided by a 3rd party agency, Everfund Medicaid Pooled Trust. Client will incur in a monthly average fee of $100.00, fee is collected by Everfund, the fee is charged to establish the Medicaid Pooled Trust, complete Medicaid application & pay for monthly average administrative charge for the first 12 months of enrollment into the Trust, by the 13th month forward the monthly average cost will be REDUCE by a 40% to 60%. Everfund will contact client to gather all required documentation