Pooled Special Needs Trusts: Low-Cost Asset Management for Injured Workers

In instances of certain disabilities, injured workers may need assets from a workers’ comp settlement to be managed by a trust with a third-party administrator. One such type of trust, a special needs trust, is unique in that it allows an injured worker to qualify for Medicaid and other government programs, but, for all its benefits, many find these trusts to be too expensive to set up. In this edition of Workers’ Comp Matters, Alan Pierce sits down with attorney Andrew Reinhardt and executive director of Commonwealth Community Trust Joanne Marcus to discuss the advantages of pooled special needs trusts. Joanne explains how her organization alleviates the financial burden for injured workers through their low cost methods for managing assets for injured workers, and Andrew shares insights on the benefits of pooled special needs trusts from his many years as a workers’ comp attorney.

Andrew Reinhardt is a partner at Reinhardt, Harper, Davc, PLC in Richmond, VA.

Joanne Marcus is executive director at Commonwealth Community Trust.