Transcription of Frequently Asked Questions (FAQs)
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Frequently Asked Questions (FAQs)
Page 1 of 12 NJ FamilyCare Aged, Blind, Disabled Programs STATE OF NEW jersey Department of Human services Division of Medical Assistance and Health services Qualified Income Trust (QIT) Frequently Asked Questions (FAQs) Updated March 2018 1. What is a Qualified Income Trust (QIT)? A Qualified Income Trust (QIT), also known as a Miller Trust, is a special legal arrangement for holding a person s income. A QIT is a written trust agreement for which th e trustee establi shes a dedicated bank account. The in come deposited into thi s dedicated bank account is disregarded when determining financial eligibility for Long Term services and Supports. QITs require that a trustee is appointed to manage th e monthly deposits and expenses and account for the funds in th e trust. A trustee must be someone other than th e Medica id appli cant/recipi ent. QIT written agreements have special co nditions that must be met and are subject to the approval of, and monitoring by, the appropriate Medicaid eligibility determining agency (EDA) and the Division of Medical Assistance and Health services (DMAHS).
Page 1of 12 NJ FamilyCare . Aged, Blind, Disabled Programs . STATE OF NEW JERSEY . Department of Human Services Divisionof Medical Assistanceand HealthServices
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