Shared Horizons’ News Release

 

IMMEDIATE RELEASE

Contact: Yolanda Mazyck 202-448-1460

 

D.C. Non-Profit Receives Approval

To Manage A Pooled Special Needs Trust

From Maryland Officials

 

On March 6, 2006, the Maryland Attorney General reached an agreement with D.C.-based Shared Horizons, Inc. that improves the quality of life for residents with disabilities without jeopardizing their eligibility for government benefits such as Medicaid and Supplemental Security Income (SSI).

 

“It’s a common misconception that if someone is indigent or impoverished enough to be on public assistance, then establishing a trust fund is unnecessary,” said Yolanda Mazyck, executive director of Shared Horizons.

 

The trust operates under the Omnibus Budget Reconciliation Act of 1993 (OBRA ’93) which allows Medicaid recipients to place funds that would otherwise disqualify them from Medicaid in a trust managed by a non-profit organization. 

 

“Our goal is to help each beneficiary use these funds for goods and services that are prohibited by Medicaid and SSI such as electronic equipment, vacations, recreation, entertainment, education, Internet services, clothing as well as some medical and dental services,” said Mazyck. 

 

Funds are currently invested in an institutional money market account through Smith Barney, thus increasing the value of the trust and extending the available resources over time.

 

Without the trust, Maryland residents could immediately lose their benefits upon receiving a sizable financial settlement that pushes their assets over the $2,000 limit specified by Medicaid and SSI.

 

 

Shared Horizons was established in 2004 by Quality Trust for Individuals with Disabilities, Inc. to provide a pooled special needs trust that would prevent District of Columbia residents with disabilities from losing public assistance when they earn, inherit, or receive a lump sum of money.