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Qualified Income Trusts (QIT) or Miller Trusts

We Make the Laws Work for You

In the state of Georgia, you may be disqualified from Medicaid if your income is over a certain amount. However, federal laws also allow you to override state caps via a Qualified Income Trust (QIT) or “Miller” Trust. At our Elder Law of Georgia, P.C. offices in Gainesville, we help clients create QITs and qualify for Medicaid.

Qualified Income Trust Planning

For Hall County residents, retirement plans should include determining your eligibility for Medicaid and securing the benefits that you need. To qualify, you may need the help of an experienced and expert planner, such as our founder: attorney Eric Owens.
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NEED TO KNOW: QUALIFIED INCOME TRUSTS

What Is the Medicaid Cap in Georgia?

In Georgia, if a Medicaid applicant’s total income is more than a certain amount per month – in 2020, it was $2,349.00 per month – then the applicant is disqualified from receiving Medicaid.

2020 Medicaid Eligibility Criteria

As part of the state cap, Medicaid applicants were judged by their maximum monthly total income (which included Social Security, pension, etc.). The total amount of all assets that were “countable” included bank account, stocks, bonds, mutual funds, variable annuities, and life insurance policies with cash value. And could not exceed $128,640 for a married couple with one applicant or $2,000 for an unmarried applicant. There were protected assets for applicants (while living), including:

  • Home/Land
  • Vehicles
  • Retirement Plans (401(k) or IRA)
  • Personal Effects
  • No Cash Value Life Insurance
  • Burial Fund
  • Certain Types of Annuities

What is a Qualified Income Trust (QIT) or Miller Trust?
Federal law permits a Medicaid applicant to deposit his or her income into a Qualified Income Trust (QIT) or “Miller” Trust and be eligible for Medicaid. The income placed in the QIT is not counted as income for purposes of the income cap. 

Do Not Confuse Medicare and Medicaid
Medicare does not pay for long term Nursing Home Care.  Fortunately, Medicaid will help cover the costs. For someone to qualify for Medicaid to pay for the Nursing Home, they must not exceed the maximum income and asset limits. 

We Address Every Detail

Our experts meet with you to determine the entire scope of your finances and goals for retirement. As part of that pursuit, a qualified Elder Law Attorney can help you create a Qualified Income Trust and qualify for Medicaid. A QIT is only one of the many tools used to help individuals qualify for Medicaid so they can receive the Nursing Home Care they need.

The Elder Law of Georgia Difference

Our law firm uses a team approach. Attorney Eric Owens will help you craft a plan that lets you access long-term care while protecting your assets. Nurse practitioner Tammy Owens then can evaluate your options for receiving the best possible health care.

Talk To Your Partners In Aging Today

If you or a loved one needs this specialized care and do not meet the Medicaid Eligibility Criteria, don’t give up. We can help you immediately. To get started, call Elder Law of Georgia, P.C., at 678-971-4971 or fill out our online contact form. We often make home visits to those who cannot make it to our office in Gainesville.

ELDER LAW

Why Hire An Elder Law Attorney?

Veterans Aid And Attendance

Medicaid & Medicare Planning

Qualified Income Trusts (QIT)

Medicaid Asset Protection

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