Common use of Party Pooled Special Needs Trust Clause in Contracts

Party Pooled Special Needs Trust. In order for a Beneficiary of a First‐Party Pooled Special Needs Trust to have funds in a trust, federal and state law requires that upon the Beneficiary’s death, the state or states will have a claim against the trust for any money that the state or states’ Medicaid program has paid out on his or her behalf that is not retained by a nonprofit organization. It is important to note that the Third‐Party Pooled Special Needs Trust does not require a Medicaid payback upon the Beneficiary’s death. Medicare – A health care program operated and funded by the federal government for senior citizens, people 65 years of age or older; and people with specific disabilities.