The most common challenge for New York’s seniors looking to get home care, is qualifying for Medicaid, which will pay for the needed home care.\u00a0 Some seni0rs might barely be above the income level required by NY State, making them ineligible for Medicaid.\u00a0 \u00a0This so-called surplus income is referred to as \u201cspend-down\u201d. Medicaid requires consumers to \u201cspend-down\u201d their income that is above the limit towards the cost of health care before accessing Medicaid benefits. A\u00a0 NY State approved ‘Pooled Trust’ might be the answer for seniors or adult children who are trying to find a way to pay for home care for parents over the age of 65.<\/p>\n
What is a Pooled Trust?<\/strong><\/p>\n In simple terms, a Pooled Trust, operated by a non-profit organization for the benefit of many people with disabilities, is a special type of trust that allows individuals to become financially eligible for public assistance benefits (Medicaid) while preserving their resources. It is also a means of helping people stay in their own homes as long as possible.<\/p>\n If you have specific questions about \u2018Pooled Trust\u2019 call SCS Pooled Trust at (718) 971-2509<\/strong>. SCS Pooled Trust is an Official Partner organization of New York for Seniors\u00ae<\/strong>.\u00a0 An SCS Pooled Trust representative will be present at the New York for Seniors Health & Wellness Resource Fair in Harlem, Thursday May 9, 2019<\/strong>.\u00a0 You can Register here<\/a> <\/strong>to come to the fair.\u00a0 You can call SCS or discuss the details with them at the event.<\/p>\n