Implications of the Cures Act for Special Needs Trusts
Today, the Centers for Medicare & Medicaid Services (CMS) issued a State Medicaid Director Letter (SMDL) # 17-001 on the 21st Century Cures Act: Special Needs Trust. Section 5007 of the 21st Century Cures Act (the “Cures Act”), Pub. L. No. 114-255, supports the independence of individuals with disabilities by permitting them to set up a special needs trust on their own behalf, rather than having to rely on a third party to do so. Special needs trusts generally permit individuals living with disabilities who are under age 65 to set aside assets to meet their needs without impacting their eligibility for Medicaid. This letter provides guidance to states on the implications of section 5007 of the Cures Act, entitled “Fairness in Medicaid Supplemental Needs Trusts,” for individuals who have disabilities.
For more information on the letter issued today click here: https://www.medicaid.gov/federal-policy-guidance/downloads/smd17001.pdf