Elder Law

Q. Don’t I make too much money to qualify for Medicaid?

A. Paying for long term care is nearly impossible without Medicaid assistance. Even individuals drawing both Social Security and a pension often fall short of affording a $10,000 per month nursing home bill. In fact, even when other assets are exhausted, many high-income individuals still have “too much income” to qualify for Medicaid.

Medicaid’s income limit for 2023 is $2,742 per month. Social Security benefits alone can exceed this limit. How would a person with $3,500 in income pay the high cost of nursing home care? Easy, by forming a Qualified Income Trust (“QIT” or “Miller Trust”).

A Miller Trust is a special trust which holds excess income. Medicaid allows an applicant to place excess income into this trust and use the trust to pay for qualified medical expenses, like nursing home care. As long as the excess income is placed in the Miller Trust each month, the applicant will qualify for assistance. However, any funds remaining in a Miller trust at the recipient’s death are often payable to the State of Indiana.

Practically speaking, Medicaid’s income test is not a barrier to receiving benefits. If the costs of long term care concern you, I recommend calling an experienced elder law attorney right away.

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