What is a Pooled Trust?

A pooled trust is a special type of supplemental needs trust (SNT) that, under Federal and New York statute, allows elderly individuals and people with disabilities to become financially eligible for government benefit programs, such as Medicaid Home Care and/or Supplemental Security Income, while preserving their monthly excess income or resources in the pooled trust for living expenses and supplemental needs not provided by those benefit programs.

Pooled trusts are established and managed by a not-for-profit organization, such as Innovative Care Solutions (ICS), for the benefit of many people with disabilities. Individual Trust Accounts are maintained for each Designated Beneficiary, but for the purposes of investment and management, the funds are pooled and managed collectively.

In accordance with Federal statute, any funds remaining in the beneficiary’s account upon death, must be retained by the trust to be used in furtherance of the purpose of the trust or paid to the State(s) that provided Medical assistance on behalf of the beneficiary.

What are the Basic Requirements for Joining the Trust?

  • The beneficiary must be disabled as defined by Social Security Law. For purposes of the Trust, “disabled” typically includes age-related infirmities.
  • The funds deposited into the beneficiary’s trust account must belong to the designated beneficiary.
  • The Trust account may only be established by the designated beneficiary, Power of Attorney (POA), legal guardian, parent or grandparent.
  • Each Trust account must be established solely for the benefit of the designated beneficiary.

Which Pooled Trust is Right for You?

Community Trust II: Pooled Trust for Excess Income

Community Trust II is a pooled supplemental needs trust (SNT) that allows a disabled person with excess income to deposit the monthly amount over the allowable limit into the trust and utilize those funds, which Medicaid would otherwise require to be "spent down on medical needs", to pay for living expenses such as rent, utility bills, food, clothing, and other personal needs that are for the sole benefit of the beneficiary.

Community Trust I: Pooled Trust for Excess Resources (Assets)

Community Trust I is a pooled supplemental needs trust that allows a disabled person to shelter excess resources before applying for Medicaid benefits so that those funds are no longer considered when determining Medicaid eligibility.

This trust is also a great option for people who need to protect an unexpected sum of money that could jeopardize their continued eligibility for Medicaid or Supplemental Security Income benefits, such as; proceeds from personal injury awards, inheritances or Social Security settlements.

Questions? Call Now   

718-208-1743