Medicaid Over-Limit? Try QITs!

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Hey there! If you’re in Florida and considering Medicaid for long-term care, but find your income slightly above the limit, don’t worry. You can use a Qualified Income Trust (QIT), also known as a “Miller Trust,” to your advantage.

Think of a QIT as a special piggy bank. When your income exceeds the Medicaid limit, just put the extra amount into this trust. It’s like telling Medicaid, “Look, my income now fits within your limits!” This strategy helps you qualify for the Medicaid benefits you need.

Here’s how it works: You take any income exceeding the Medicaid limit each month and deposit it into your QIT. You can then use this money for specific purposes, such as a small personal allowance, health insurance premiums, and certain care costs not covered by Medicaid.

But remember, setting up a QIT isn’t a DIY task. You must establish your QIT correctly, adhering to Florida’s regulations. The trust must be irrevocable, meaning you can’t change it or dissolve it once established. Also, when a Medicaid recipient passes away, the state may use any remaining funds in the trust to reimburse the care costs they covered.

If you’re considering a QIT in Florida, consulting a legal expert in elder law or Medicaid planning is wise. They can ensure correct setup and guide you smoothly through the Medicaid process!

Attorney Laura Sterling

Attorney Laura Sterling

Attorney Laura Sterling is a highly accomplished legal professional with a unique background in social work. Miss Sterling's academic credentials include a Bachelor's Degree and a Master's Degree in Social Work, as well as licenses as a Clinical Social Worker and attorney in Florida.

Horarios: Lun-Vier 8.30-17.30. Sábados 9.00-14.00.
Teléfono: +1 407-545-4747