The link to Indiana rules on Miller Trusts, below, is very helpful. For others not in IN, please note that the rules do vary slightly from state to state, so be sure to find out the specific rules for your own state before taking any action.
Thank you, MaggieM., for finding that site.... Have not had time to read all of it.......but I think this government site should answer questions that many folks have about more than just Miller's trust... I saved it for easy future access !!! Thanks again...!!! Wish you a good day !!!
Annie - a Miller isn't about expenses but rather is a way to deal with an elder who has too much monthly "qualified& guaranteed" income to be eligible for Medicaid but is eligible in all other ways . Miller gets the extra income & VOILA!, their eligible!!
Let's say mom gets $800 in SS, $ 1K from her deceased husbands retirement & she gets her own retirement of $ 1K. So every month has $ 2,800 income. Mom has doctors orders for skilled nursing care, she has under 2K in saving and no other non-exempt assets so she is totally good for everything else medicaid. BUT her states Medicaid has a ceiling of $ 2,062 income maximum. (each state can set their own income ceiling, for my mom when she applied in TX it was $ 2,062 max monthly). So mom would be $ 738.00 over the maximum income allowed. The Miller gets the income and "pays" mom $ 2,062 & the trust gets $ 738 overage. Some states do miller as an end game trust in which each month the NH gets the full amount (less whatever is their personal needs monthly allowance); other states actually have the overage go into a trust which upon their death goes to the state. Because each state places its unique spin on Medicaid, it is important that the miller is done correctly by an attorney. It is not IMHO a DIY project ever.
Not all income sources qualify...it has to be a "guaranteed" income source. Really miller is a godsend for be able to get Medicaid for those who have too much income to qualify but will never have enough $$ to ever private pay.
https://secure.in.gov/fssa/ddrs/4860.htm
Have not had time to read all of it.......but I think this government site should answer questions that many folks have about more than just Miller's trust... I saved it for easy future access !!! Thanks again...!!! Wish you a good day !!!
Let's say mom gets $800 in SS, $ 1K from her deceased husbands retirement & she gets her own retirement of $ 1K. So every month has $ 2,800 income. Mom has doctors orders for skilled nursing care, she has under 2K in saving and no other non-exempt assets so she is totally good for everything else medicaid. BUT her states Medicaid has a ceiling of $ 2,062 income maximum. (each state can set their own income ceiling, for my mom when she applied in TX it was $ 2,062 max monthly). So mom would be $ 738.00 over the maximum income allowed. The Miller gets the income and "pays" mom $ 2,062 & the trust gets $ 738 overage. Some states do miller as an end game trust in which each month the NH gets the full amount (less whatever is their personal needs monthly allowance); other states actually have the overage go into a trust which upon their death goes to the state. Because each state places its unique spin on Medicaid, it is important that the miller is done correctly by an attorney. It is not IMHO a DIY project ever.
Not all income sources qualify...it has to be a "guaranteed" income source. Really miller is a godsend for be able to get Medicaid for those who have too much income to qualify but will never have enough $$ to ever private pay.