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Minimum Deposit is $5,000.
Enrollment Fee $950. The enrollment fee is a one-time fee that covers the cost of setting up the initial account. This fee is paid upon execution of the Joinder Agreement with each participant. This Joinder Agreement is the document that spells out the specific arrangement between the trust and the individual and is a guide for all interactions and disbursements.
Administration Fee The administration fee is the fee paid annually to the trust by each participant to cover the costs of individual account management and the review and disbursement of funds. This includes meeting with individuals, families, and advocates about the program and assisting with future needs and disbursement planning. Other typical administrative responsibilities include expediting disbursements from trust accounts, tracking and reporting how disbursements are made, crediting interest and providing year-end tax statements.
Balances of $50,001 and up 1.5% of balance (annual charge) $25,001 to $50,000 $600 flat fee $10,001 to $ 25,000 $500 flat fee $ 0 to $10,000 $375 flat fee
Care Management Fee $500 (fee for service - optional) The Care Management fee covers any expanded services delivered by the Trustee including, but not limited to, shopping for the beneficiary, product delivery, product and service research, participation in management meetings, etc.
Termination Fee $950 (conditional) The termination fee is assessed when the individual account is closed due to a change in state residency or the death of beneficiary. The termination fee covers activities related to closing the account, such as accounting activities, final reporting to Social Security, Medicaid, grantor, and provider agencies.
Shared Horizons’ Board of Directors review the fee schedule annually.
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FEE SCHEDULE |
