Once an individual financially qualifies (by reason of their available RESOURCES) for Medicaid medical benefits, the next issue which must be addressed is whether there is an income "overage." With few exceptions, every dollar of income that a Medicaid recipient receives over Medicaid's set limit must be paid to Medicaid. However, for those receiving Medicaid home-care benefits, the cost of a mortgage, property taxes, utilities, food and clothing may well exceed Medicaid's monthly income allowance.
The solution to this problem is the NYSARC Trust. NYSARC is a New York State pooled trust that, through proper planning, can allow a Medicaid home-care recipient to protect their income "overage" in order to pay their bills.
For more information, contact us here or call (631) 470-9753.