Receiving long-term care services and have income over the Medicaid limit? Deposit excess funds into a Qualified Income Trust account.
- Unlimited Check Writing
- Digital Banking
- Debit Card
- Contact a Consumer Banker Today
Who Needs a QIT?
In order to receive Medicaid long-term services, an individual’s income must be below the Medicaid limit set by the State of Ohio. Medicare long-term services are provided to eligible people who:
- Live in a nursing facility; or
- Live in intermediate care facilities for individuals with intellectual disabilities (ICF-IDD); or
- Receive home and community-based services (HCBS), like PASSPORT, Assisted Living, Ohio Home Care, Individual Options, MyCare Ohio, etc.
How Do I Set Up a QIT Checking Account?
- Visit any Old Fort Bank Financial Center
- Bring a notarized copy of the Qualified Income Trust when opening the account
- Grantor of the Trust
- Trustee(s) of the Trust
- Beneficiary – State of Ohio
The Trustee is responsible for maintaining regulations, compliance and reporting associated with a Qualified Income Trust. Old Fort Bank performs no reporting to government agencies, no monitoring of the account and no legal advice relating to this account.
A closed account fee of $25.00 will be assessed if the account is closed within 90 days from opening.