“A Clever Strategy to Get Your Long-Term Care Costs Covered by Medicaid,” by Eric Reed, Yahoo!Finance


“A qualified income trust (or QIT) is a special form of trust designed to help people receive long-term care benefits under Medicaid. It is intended for people who make too much money to receive long-term or residential-care benefits under the program, yet too little money to pay for this kind of care on their own. Through a QIT patients can carve out a portion of their income each month into a dedicated account. They lose direct access to this money, but it also does not count toward their income for the purposes of Medicaid eligibility. In doing so the trust allows them to become eligible for benefits they otherwise could not receive. Here’s how it works.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

With articles like this one everywhere in the media, should it any surprise that most people don’t think about long-term care until they need it?