The 2014 Ohio Community Pooled Flexible-Spending Trust, a first party trust, is available to disabled residents of Ohio.

The Disability Foundation acts as Distribution Trustee over the ‘2014 Ohio Pooled Flexible-Spending Trust (2014 OCPFST)’, authorized by 42 USC Section 1396p(d)(4)(C), Ohio Revised Code Annotated Section 5111.151(F)(3), and Ohio Administrative Code Section 5101: 1 39 27.1(C)(3)(c): federal and Ohio laws.  The 2014 OCPFST provides a financial plan for supplemental needs (as defined in Ohio Admin Code 5123:2-18- 01) without causing loss of Medicaid and SSI benefits.

The 2014 Ohio Community Pooled Flexible-Spending Trust (2014 OCPFST) provides an option to families who do not want the annuity limitation in the OCPAT.  The only limit on the amount that can be spent is the amount in the individual’s account.  This provides more flexibility, if a major purchase is needed.

The Flexible-Spending Trust allows individuals to set resources aside for a time when those funds are needed to purchase supplemental need items.  It does not provide a lifetime guarantee of payments; however, it does allow recipients to make requests from the principle sum in the Trust.  Once the Flexible-Spending Trust is funded, a Personal Representative for the Trust Recipient is sent a Request for Distribution form, on a quarterly basis, asking if the trust recipient requires any distributions from his/her trust for the upcoming quarter.

The process for creating and utilizing the Flexible Spending Trust is as follows:  Account Agreement is signed and the agreement, along with a W-9 Tax ID form and a check for the trust amount, are sent to our financial institution partner (currently Key Bank).  The Disability Foundation collects a one-time $1,000 setup fee out of that amount (or donor can pay for it at the time of trust initiation) and creates a Trust with the remainder amount.  Acknowledgement of the trust’s inception, along with an account number, is forwarded to The Disability Foundation, by KeyBank.  Starting with the first quarter after the trust’s inception, a Request for Distribution form is mailed to the Personal Representative.  The Personal Representative will then complete, after conferring with the trust recipient, the ‘Distribution Request’ form and mail it back to The Disability Foundation.   Distribution requests are reviewed and approved by the Executive Director, and once approved, checks are sent out, to specified vendors or to the Personal Representative, by KeyBank.

In regards to the Flexible-Spending Trust, in addition to the one-time set-up fee, a small annual fee is charged to the individual trust.  No minimum has been set for the establishment of a Flex.-Spending Trust.

The Third Party Pooled Flexible Spending Trust is created with money provided by anyone other than the beneficiary, such as parents, other relatives, or friends of the beneficiary. The beneficiary cannot create their own third party trust, nor can any monies they have ever owned be deposited into the trust. 

The trust can be created during the grantor’s lifetime or as a part of the last will and testament. Since the monies never belonged to the beneficiary, upon their death, there is no Medicaid Payback, and the remainder beneficiaries may receive the funds. Examples of funding include gifts directly to the trust, an inheritance the Grantor wishes to leave to the beneficiary (the beneficiary has not yet received the inheritance), or life insurance policy proceeds, all directly directed to the trust.

The Ohio Community Pooled Annuity Trust, a first party trust,  is available to disabled residents of Ohio.

The Disability Foundation acts as Distribution Trustee over the Ohio Community Pooled Annuity Trust (OCPAT)’, authorized by 42 USC Section 1396p(d)(4)(C), Ohio Revised Code Annotated Section 5111.151(F)(3), and Ohio Administrative Code Section 5101: 1 39 27.1(C)(3)(c): federal and Ohio laws. The OCPAT provides a financial plan for supplemental needs (as defined in Ohio Admin Code 5123:2-18-01) without causing loss of Medicaid and SSI benefits.

Through the Ohio Community Pooled Annuity Trust (OCPAT), individuals with disabilities, and their families, can establish an account that will provide a lifetime plan of payments backed by The Dayton Foundation.   When a family sets up an account in this trust, an annuity calculation is completed, and a monthly benefit determined.  Each month that amount is credited to the individual’s spending account. A major advantage of this Trust is that the monthly benefit is guaranteed for the life of the individual.

Once the Annuity Trust (OCPAT) is initiated, the Personal Representative is given a Request for Distribution form, on a quarterly basis, asking if the trust recipient requires any supplemental need distributions to be made. The office processes the request; the Distribution committee approves the request; and a check is mailed out to the specified vendor or Personal Representative to acquire that supplemental need.

There are no set up or annual fees associated with the Pooled Annuity Trust.  An administrative fee is taken from the Pool; however, no fees are attached to any individual trust.  There is a $5,000 recommended minimum investment for the initiation of an annuity through The Disability Foundation.