Qualified Income Trusts (QITs)

A Qualified Income Trust (QIT) is a special legal arrangement that allows individuals with high income to qualify for Medicaid benefits, which help pay for long-term care services. Typically, Medicaid has strict income limits, but a QIT can hold excess income that would otherwise disqualify a person from receiving assistance. By placing this excess income into the trust, individuals can meet Medicaid's financial requirements while still using those funds for allowable expenses. This helps ensure they receive the care they need without losing financial stability. It’s essential to follow specific rules when setting up a QIT.