Ohio Medicaid Rules Have Changed! Do You Need a Qualified Income Trust for Medicaid Eligibility?
Do you or a loved one live in Ohio and receive Medicaid benefits for long-term care? Do you foresee yourself or a loved one needing long-term care in the future? If so, the Ohio Department of Medicaid made changes to its eligibility requirements in 2016 that may affect you.
The Ohio Qualified Income Trust and its Requirements
In order to receive Medicaid benefits for long-term care, an individual’s monthly income must be below the Medicaid income limit set by the state of Ohio. Starting August 1, 2016, if a Medicaid applicant or recipient’s monthly income exceeds $2,199, the applicant or recipient must set up a Qualified Income Trust (aka a “QIT” or “Miller Trust”) before he or she is eligible for benefits. For individuals already receiving Medicaid benefits, they must set up their QIT either before August 1 or before their 2017 renewal date. To be enforceable, the trust must be irrevocable, it must name Ohio as a residual beneficiary, and it must be properly executed. The trust must also only contain the individual’s income. It cannot shield assets or contain someone else’s income.
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