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2009 Revisions to the Social Security Administration POMS Relating to Special Needs Trusts

In January of 2009, the Social Security Administration (SSA) made a number of changes to the POMS relating to both first party and third party special needs trusts.  These changes affect the drafting and administration of Special Needs Trusts and drafting Court Orders establishing self-settled special needs trusts.  Pooled trusts are also covered in the…

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Medicaid Planning After Reform

by Thomas D. Begley, Jr., CELA and Andrew H. Hook, CELA, CFP On February 8, 2006, President Bush signed the Deficit Reduction Act of 2005 (ADRA@). 1 The effect of this legislation has made it more difficult for persons to become eligible for Medicaid. Unfortunately, the federal and state governments save money at the expense…

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Medicaid Trusts

1. Medicaid-Qualifying Trusts Trusts established and funded on or before August 10, 1993, are governed by the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) and trusts established and funded after August 10, 1993, are governed by OBRA-93.  42 U.S.C. § 1396a(k) and 1396p. A Medicaid-Qualifying Trust (MQT) was defined under COBRA as a trust…

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Distributions from Special Needs Trusts Relating to Medical Expenses

One of the most pressing needs for disabled beneficiaries is medical care. Medical Insurance It is crucial that the disabled beneficiary obtain some form of medical insurance.[1] Options include the following: Private Medical Insurance. Typically, the only source of private medical insurance at regular rates is through the parent’s coverage with the parent’s employer. Parents…

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