Qualified Income Trusts

Qualified income trusts (QITs) can be used to help a person qualify for Medicaid whose gross income before any deductions is above the limit to qualify for Medicaid long-term care services.  The current income limit for Medicaid long-term care services (in 2015) is $2,199 per month.  This type of trust agreement must be irrevocable and must be approved by the Department of Children and Families’ legal office.  Deposits must be made into your QIT each month you wish to qualify for Medicaid.  After the account holder’s death, the funds remaining in the QIT will be used to pay back Medicaid up to the amount received and used for long term care.

If you have questions about qualifying for Medicaid to help pay for long term care, contact our Florida Board Certified Elder Law Attorney Babette Bach, Esq. at (941) 906-1231.