Alpert JFS’ Pooled Trust allows seniors and/or persons with a disability to place income and or assets that are over government benefit limit requirements for Medicaid into a trust, so that they can qualify for much-needed government benefits, and become instantly eligible.
Watch this video: How you can benefit from a Pooled Trust
Why consider joining a Pooled Trust?
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A POOLED TRUST CAN PAY FOR ACTIVITIES AND SERVICES
THAT ENHANCE QUALITY-OF-LIFE.
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Who can benefit?
- Adults in need of skilled care, regardless of age
- Persons living in nursing homes, assisted living facilities, or at home with caregivers
- Recipients or applicants of Medicaid
- Recipients of court awards or inheritances that would otherwise disqualify them from Medicaid benefits.
POOLED TRUST SCENARIOS:
Sarah is an 85-year-old woman with $200,000 in assets, including the value of her modest condo. She has recently been placed in a nursing home because of her increasing frailty and dementia. Her family has used the Pooled Trust to protect her assets, while Medicaid pays her bill to the nursing home at a rate significantly below the private pay rate. Additional services, such as a private room, case manager and additional care, which are not covered by Medicaid, are being paid from the Pooled Trust. When Sarah dies the Trust will repay Medicaid, and her remaining assets will go to the family listed in the Pooled Trust Agreement. As a result, Sarah is able to obtain additional services not covered by Medicaid, save on the cost of nursing home care, and pass money on to her loved ones.
Joe is a 45-year-old carpenter who had a serious accident, suffering multiple injuries while at work. His injury claim was settled for $1,000,000. After extensive hospitalization and therapy, Joe was able to go home. He has not worked for four years due to his unstable medical condition, still has ongoing doctor visits, and has had to hire caregivers for 10 hours a day to assist his wife with caring for him. Just 48 months after the accident, Joe’s settlement monies have been depleted, due to his substantial healthcare costs and home care expenses. He did not know about a Pooled Trust.
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Why consider a Special Needs Pooled Trust:
- You meet Social Security’s definition of “disabled” if your medical condition renders you unable to engage in substantial employment.
- Placed in a Pooled Trust, your funds can supplement your current public benefits and still have Medicaid pay the cost of a nursing home, or remain at-home, receiving other long-term care covered by Medicaid. This allows for the trust to pay for a private room, therapies, a T.V., a vehicle, education and more.
- Upon death, you can leave funds to others, after certain public benefits are reimbursed for the care they provided.
- Alpert JFS can provide, supervise and facilitate additional services, including case management, companion and home health services, as needs arise.
Why choose Alpert JFS Special Needs Pooled Trust:
- Professional management and low-risk investment of your funds within the trust.
- A team of experts: elder law and estate planning legal counsel, Masters level social workers, guardians, accounting professionals and others.
- The full faith and backing of a well-established non-profit, full-service agency with multiple locations throughout Palm Beach County.
- A community partnership with the courts, and specialized legal, banking, government, health and financial service providers.
- Sensitive and competitive trust service, fees, and costs.