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Title 8: Medicaid Page 70 Iowa Department of Health and Human Services Employees’ Manual Chapter D: Resources Trusts Revised September 13, 2024 Trusts Established After August 10, 1993 Medical Assistance Income Trust (MAIT) Legal reference: 441 IAC 75.24(3)“b,” Iowa Code 633C.1, 633C.3 A medical assistance income trust (MAIT) must meet the following conditions:  The trust is an irrevocable trust established after August 10, 1993.  Only the beneficiary’s earned and unearned income is deposited into the trust.  The state will receive the remaining balance in the trust upon the death of the beneficiary, up to the amount Medicaid paid out for the beneficiary.  The trust may be revocable, if a clause is added that upon revocation or termination, the trust and income will be paid back to the state up to the amount of medical assistance paid on behalf of the beneficiary. The principal of a medical assistance income trust is not a countable resource. Determine available income as directed in 8-I, Members with a Medical Assistance Income Trust and 8-E, Medical Assistance Income Trusts (MAIT). Special Needs Trust (Pooled Trust) Legal reference: 441 IAC 75.24(3)“c,” Iowa Code 633C.1, 633C.2 A special needs trust or pooled trust for persons under 65 years of age is a trust that meets the following conditions:  The trust is established after August 10, 1993, and provides that the state will receive the remainder of the trust principal and income upon the death of the beneficiary.  The trust contains the assets of a person who is disabled as defined by Social Security Administration.  The trust is established and managed by a nonprofit association.  The association maintains a separate account for each beneficiary of the trust, but pools these accounts for purposes of investment and management of funds.  Accounts in the trust are established solely for the benefit of people who are disabled (as defined by Social Security Administration).  Accounts are established by the parent, grandparent, or legal guardian of the beneficiary, by the beneficiary, or by a court.