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Special Needs Trust Can Protect Disability and Medicaid Benefits
Americans who suffer a disabling injury and collect Supplemental Security Income (SSI) disability benefits may find themselves with a conundrum – proceeds from a personal injury lawsuit may cause them to lose their SSI income and, most importantly, their Medicaid healthcare coverage. That’s because both SSI and Medicaid are “means tested” programs which require that beneficiaries have very little income and very few assets to be eligible for benefits. And with a lifetime of expensive healthcare services in front of them, loss of their Medicaid benefits could be especially devastating. A solution is available, however, in the form of a Special Needs Trust (SNT), which can help prevent a windfall monetary award from disqualifying a beneficiary for SSI and Medicaid benefits. This LegalExaminer.com article by attorney Jason Lazarus explains how an SNT works to protect you from losing disability benefits. Click here to read more.