Charitable Mission of the Midwest Special Needs Trust
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Transcript of Charitable Mission of the Midwest Special Needs Trust
CHARITABLE MISSION OF THEMIDWEST SPECIAL NEEDS TRUST
September 25, 2013 MACDDS Meeting
PRESENTATION OVERVIEW
MSNT Background and History MSNT as a pooled trust Charitable Mission
Charitable Trust MSNT as Trustee
Protecting Benefits MSNT Services
Questions & Discussion
MSNT DEVELOPMENTAL MILESTONES Statute passed in 1989 Corporate status in 1990 First trust opened in 1991 Federal law exempting SNT as countable
assets passed in 2003 Expanded service area in 2005 to
surrounding states Updated statutes in 2011 Relocated to independent offices in 2012 Surpassed 1000 trusts in 2013
Created by Missouri Statute in 1989 as Missouri Family Trust, a public instrumentality of state government
Values-driven board appointed by Governor
Not for profit corporation with 501(c)3 status
Serves Missouri and surrounding states
Receives no state or federal appropriations
WHAT IS A POOLED TRUST? MSNT qualifies as Pooled Trust
Special needs trusts must be established & administered by a non-profit organization
Trust agreements and distributions must conform to federal SSA requirements Trusts for sole benefit of individual with a
disability State pay-back clause required Federal allowance for pooled trust to retain all or
part of the remaining amount at the death of the trust beneficiary
FEDERAL & STATE AUTHORITY PROTECTING PUBLIC BENEFITS FOR SNT LIFE BENEFICIARIES
Exceptions for Counting Trust Resources for Persons with Disabilities
Federal Medicaid Regulations Title 42 US Code Section 1396p(d)(4)(A) Title 42 US Code Section 1396p(d)(4)(C)
State Eligibility Manual for PTD Medicaid Link @ http://www.dss.mo.gov/fsd/iman/medasst/0805-015-10.html
SSI Section 1917(d)(4)(A) of the Social Security Act Section 1917(d)(4)(C) of the Social Security Act
STATUTORY AUTHORIZATION FOR MSNT §402.199-402.208 RSMO establishes the
Charitable Trust of the Missouri Family Trust Governor-appointed and mission driven Board
Focus on service to PWD and their families Affordable alternative to low to middle income
families MSNT has a statutory duty to protect public
benefits for trust beneficiaries Statute permits MSNT a 25% charitable retention
at death of the life beneficiary MSNT Board responsible for operational
guidelines for the Charitable Trust
CHARITABLE GRANT AWARDS Up to $1000 paid to vendor/provider
directly Only for goods and services prospectively
based on estimate or treatment plan Two categories
Urgent/dental Twice a month Staff review
General Quarterly Board review
ELIGIBILITY Disability determined by SSA verified by -
SSI for disability SSDI
Income eligibility based on Federal Poverty Guidelines updated at the beginning of each fiscal year
Need demonstrated by treatment plan, estimated cost and application
US citizen and Missouri resident No CT grant award in previous 12 months
CHARITABLE GRANT APPLICATION*
Completed & signed application form
Proof of disability Proof of income Estimate/treatment plan
*MSNT will only consider complete applications!
REVIEW PRINCIPLES Grant award covers
full cost of applicant need(s)
Matching funds from applicant or others
Provider offers discounted service
Grant would be cost effective in reducing future needs
High-value outcomes One-time expenses,
not ongoing commitments
Supplements but does not supplant Medicaid or Medicare coverage
EXCLUSIONS Applicant is in jail/prison Application is incomplete
or unsigned Applicant or any member
of the household has been disqualified from receipt of federal benefits due to a finding of fraud or failure to report to public benefit authorities
Request to reimburse another party for requested goods/services
Experimental or cosmetic
Applicant benefits have been reduced or suspended due to overpayment
Applicant fails or refuses to provide information about household
Applicant has history of felony convictions
Request is for vehicle, rent, utilities, groceries, cell phone
Covered by Medicaid/Medicare or other insurance
LOWER PRIORITY IF - Requested items are
disposable and will need to be re-supplied continually for lifetime
Vehicle repair, parts, fuel or mileage, even for medical care
Item is available through accessible public venues such as books, equipment loan programs
More readily available through other charitable entities and not disability-related such as clothing or shoes
Applicant has failed to properly care for and protect similar assets or resources demonstrated by repeated or willful loss/destruction of personal property
ANNUAL DISTRIBUTION FORMULA Approved by the Board each fiscal year Total distributions = 50% of the
charitable remainder +100% dividends and public contributions
For FY 14, $137,859 available for distributions
OPPORTUNITIES Flexible program Greater emphasis on quality of life and
independence Partnership potential
MSNT BOARD ENCOURAGES & INVITES - Supplement to waiver
budgets for ISL for appliances or adaptive equipment
Tuition and costs with programs like Warrensburg campus
Conferences for parents and PWD related to self determination and advocacy
Wonderland and other recreational or therapeutic camps
Ramps, lifts and other adaptive equipment to assist with community living as alternative to institutions
Communication and assistive devices not covered by Medicaid or waiver
REMEMBER - Donations are welcome! Special Needs Trust administration supports
Charitable Trust MSNT is an affordable SNT option for 1st and 3rd
party trusts Referrals are welcome Donor can increase remainder to CT or name
other charitable purposes as remainder beneficiaries
Contact MSNT for to arrange for presentations and exhibit opportunities
ABOUT MSNT Currently administers over 1000 active
accounts, mostly in Missouri with trust account assets exceeding $30 million
Contracts with a banking partner for account custodial services and investment management
In FY 13, the average size at opening was $25,500
Steady growth in number of accounts and total trust assets over the last decade
MSNT AS TRUSTEE MSNT has more than 20 years of experience
Provide consultation on use of trust funds Staff and board knowledgeable about SSI, Medicaid and
services to PWD Minimizes co-trustee burden
Low minimum deposit & minimum account balance Process distributions daily Upon request, submits trust info to SSA/FSD Reasonable administrative fees MSNT offers investment choices for managing
individual accounts
SEARCH FOR MSNT BOARD MEMBERS -
Three vacancies Governor
appointed Welcome you to
identify interested parties
Quarterly meetings
MSNT CONTACT INFORMATION
Midwest Special Needs TrustPO Box 7629Columbia, MO 65205
Phone: 573-256-5055Toll free: 1 877-239-8055Fax: 1 573-303-5866
Email: [email protected]: www.midwestspecialneedstrust.org
HANDOUTS Grant applications First and Third party
Trust Packets MSNT Brochures
Set up a special needs trust for Mary
QUESTIONS & DISCUSSION