The big question for me is if I use part of my income for one of these special
needs trusts, is my income reduced so that I can meet my Medicaid requirements
for assistance?
From: Jim Lubin <[email protected]>
To: Quad-list <[email protected]>
Sent: Thursday, August 10, 2017 9:39 AM
Subject: [QUAD-L] Implications of the Cures Act for Special Needs Trusts
Implications of the Cures Act for Special Needs TrustsLast week, the Centers
for Medicare & Medicaid Services (CMS) issued a State Medicaid Director Letter
(SMDL) # 17-001 on the 21st Century Cures Act: Special Needs Trust. Section
5007 of the 21st Century Cures Act (the “Cures Act”), Pub. L. No. 114-255,
supports the independence of individuals with disabilities by permitting them
to set up a special needs trust on their own behalf, rather than having to rely
on a third party to do so. Special needs trusts generally permit individuals
living with disabilities who are under age 65 to set aside assets to meet their
needs without impacting their eligibility for Medicaid. This letter provides
guidance to states on the implications of section 5007 of the Cures Act,
entitled “Fairness in Medicaid Supplemental Needs Trusts,” for individuals who
have disabilities. For more information on the letter issued today click here:
https://www.medicaid.gov/ federal-policy-guidance/ downloads/smd17001.pdf
