Many Georgia residents require medical care that they cannot fully pay for. Medicaid was created to help low income people obtain proper medical care, but if a person's income is above the Medicaid limit, they are not eligible for the federal benefits. Georgia has created a legal device called a Qualified Income Trust that helps these individuals become eligible for Nursing Facility, Hospice and Home and Community Based Services and Medicaid.
Georgia establishes an income limit for Medicaid eligibility. Anyone whose income exceeds the income limit is not eligible for Medicaid. A QIT can make a person eligible for Medicaid by serving as a repository for income that would otherwise disqualify the recipient as eligible for Medicaid. In its simplest terms, a QIT serves as a depository for all income in excess of the Medicaid cap. The trust is irrevocable, that is, once established, it cannot be abolished. A QIT is executing a proper trust agreement and opening a QIT account at a bank. The trust instrument contains a worksheet on which the maker of the trust lists income. All income that exceeds the state income limit is deposited in the trust.