The Miller Trust Withdrawal
Description
How to fill out Qualified Income Miller Trust?
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FAQ
Income deposits into the trust may also provide funds to a spouse if the patient is married. In Texas, Miller Trust funds can also be used to pay for health insurance and Medicare premiums. Medical costs not covered by Medicare and Medicaid can also be paid from the trust.
A Miller trust, also called a Qualified Income Trust (QIT), can help you qualify for Medicaid nursing home benefits or other long-term home-based care services if your income exceeds the eligibility requirements.
The trust must be irrevocable. The trust must state: ?Upon the death of the beneficiary, the trust assets shall be paid to the Medicaid agency of the State of Indiana up to the total amount of the Medicaid payments made to or on behalf of the beneficiary,? or words substantially to that effect.
The state in which the Medicaid recipient will be receiving long-term care benefits must be named as the beneficiary, and upon the death of the individual, the state will receive any funds it paid into the Miller Trust that were unused. The trust is irrevocable, which means that it cannot be altered or cancelled.