If you are using the Pooled Trust due to excess income than you would deposit all gross income in EXCESS of the monthly income cap (which is $2,829.00 in Florida). But Pooled Special Needs Trusts can also be used to protect excess assets. In other words, the exact amount you would transfer into a Pooled Special Needs Trust depends on your - or your loved one’s - circumstances.
After you get approved for ALF medicaid (waiver) you’ll be assigned a case manager. If you need to transition to a skilled nursing facility, your case manager will help you make that transition. Sometimes the transition is all handled internally. I have, on occasion, seen a new application be requested. However, I wouldn’t worry too much about it. Most nursing facilities will handle that part for you if needed.
How much do you need to put in a pooled trust?
If you are using the Pooled Trust due to excess income than you would deposit all gross income in EXCESS of the monthly income cap (which is $2,829.00 in Florida).
But Pooled Special Needs Trusts can also be used to protect excess assets.
In other words, the exact amount you would transfer into a Pooled Special Needs Trust depends on your - or your loved one’s - circumstances.
If I am approved for ALF with medicaid and needs nursing home in the future, do I have to reapply?
After you get approved for ALF medicaid (waiver) you’ll be assigned a case manager. If you need to transition to a skilled nursing facility, your case manager will help you make that transition.
Sometimes the transition is all handled internally. I have, on occasion, seen a new application be requested. However, I wouldn’t worry too much about it. Most nursing facilities will handle that part for you if needed.