If I’m on SSD and Medicaid but am getting a settlement from a bladder mesh sling, is there a trust that I can set up so that I can protect my benefits since I can’t afford to loose my Medicaid?
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If I’m on SSD and Medicaid but am getting a settlement from a bladder mesh sling, is there a trust that I can set up so that I can protect my benefits since I can’t afford to loose my Medicaid?
Asked on September 18, 2015 under Estate Planning, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If you have control of the money, whether it is in a trust or otherwise, then it is considered your money--i.e. an asset of yours--and will be counted against you for Medicaid. Even if you don't control it, if you receive payments annuities, dividends, interest, whatever, that income will be counted against you. There is no way to have the money--i.e. to not give up entirely--that will guaranty it will not be counted against you for Medicaid purposes. After all, if there any reasonable way to do this, everyone would do it.
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