For these purposes supplemental needs refer to anything other than food, housing and basic medical care. Government benefits including Supplemental Security Income and Medicaid will only pay for a person's primary living needs (food, housing, and basic medical care). The Master Pooled Trust is designed to provide another source of funds that can be used to pay for supplemental needs including but not limited to travel, entertainment, education, eyeglasses, insurance premiums, diapers, and other nonessential medical supplies and services.
If a person with a disability receives even a modest amount of money (exceeding $2,000) from an inheritance, a gift, a court settlement, or even from savings account established on his or her behalf, he or she may no longer be eligible for government benefits. However, if the funds are placed in a Master Pooled Trust account, government benefits will not be at risk.
The Arc of Texas is the manager of the Master Pooled Trust. As the trust manager, The Arc of Texas is responsible for following current SSI & Medicaid regulations. The agency also ensures that trust disbursements will not create income that could cause the beneficiary to lose his or her government benefits.
The Arc of Texas' responsibility in approving requests is to ensure that funds will not be exhausted in a way that could jeopardize the beneficiary's eligibility for government benefits.
Even if the funder intends to fund the beneficiary's trust through a will or life insurance policy, the funder will have an opportunity to outline how they wish the funds to be distributed upon enrollment and completion of the legally binding Joinder Agreement.
The Arc of Texas will review and update the beneficiary's file annually to reflect current government regulations and the family's wishes.
Unlike a traditional bank trust, which often requires you to invest a minimum of $500,000, you can open a Master Pooled Trust account with small amounts of money. We have trusts ranging from as low as $500 to more than $2 million.
The Enrollment and Annual Consultation Fees for the Master Pooled Trust are lower than those of many bank trusts. There are no annual fees for accounts which are not yet funded.
*In order to be eligible for the Master Pooled Trust, the person must meet the Social Security Administration's definition of a person who has a disability.