Classification of Trusts

Classification of Trusts The three classifications of trusts are as follows: A. OBRA-93 Trusts: 1. Are trusts established on or after August 11, 1993, the date mandated by OBRA-93 Federal legislation. 2. Must meet certain criteria. If OBRA-93 criteria are not met, another trust policy applies. 3. Rules were amended by The Deficit Reduction Act of 2005 (DRA) which provides current operating procedures for trust issues. B. Medicaid Qualifying Trusts (MQT) are trusts established on or after March 1, 1987, through August 10, 1993, that meet MQT criteria. If MQT criteria are not met, defer to Miss. Admin. Code Part 103, Rule 5.1.C. C. Standard Trusts are trusts established prior to March 1, 1987, and/or trusts that do not meet the criteria of OBRA-93 or MQT trusts, regardless of the date established.