So if you’re getting any federal assistance, make sure the bureaucrats know about your GoFundMe assets.ĭunn said assets garnered from a GoFundMe account are considered income if an individual is applying for Medicaid or any public assistance program. In addition to specializing in patents, Thomas also has expertise in contract, copyright, trademark, business and cyber law. “Most benefits that the federal government will provide to individuals (are) contingent on what funds the individual has,” Thomas said.
However, public assistance such as Medicaid is affected by crowdfunding income. Their rates are based on an individual’s income earned. ISSUES OF INSURANCE AND PUBLIC ASSISTANCEĪlthough a user should always check to make sure, Thomas doesn’t think private insurance is much affected by GoFundMe accounts. If you’re thinking about setting up a GoFundMe account, here are some of the things to keep in mind: I suspect that many may not have the sophistication necessary” to know all the ins and outs, he said. Patrick Thomas, a patent attorney and associate director of technology commercialization at Weber State University, says most of us will have trouble with company legal jargon. Because GoFundMe accounts are often designed to help defray much larger costs, many might not be aware they are considered income that needs to be tallied, he said.
Nic Dunn, spokesperson for the Utah Division of Workforce Services, which administrates Medicaid, said the issues the Campbell family faced with verifying income through crowdfunding is not unusual. GoFundMe’s Common Questions listed on the site are only answered in generic terms.
And it’s important to understand the rules and regulations in the fine print. It’s easy to set up a GoFundMe account, but more difficult to grasp the details of the online firm’s terms of use. Plain City resident Tim Campbell finally received Medicaid funds for his injured wife, Koreen, only after the feds were able to scrutinize the $4,000-plus dollars he garnered from a GoFundMe account for her health care.
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