In 2015, the ABLE Act was passed to give people with disabilities the ability to supplement benefits such as Supplemental Security Income (SSI), Supplemental Security Disability Income (SSDI), and Medicaid by placing money into an ABLE account in order to maintain his or her lifestyle. More importantly, funds in an ABLE account do not affect Medicaid, SSI, SSDI, or other government benefits.
An ABLE account may be established by the disabled individual themselves or by a parent, guardian, or agent of the disabled individual. Once an ABLE account is created, the disabled person will be the beneficiary of all funds in the account and it may be funded by anyone who wishes to contribute.
Continue reading “ABLE Accounts Won’t Affect Your Medicaid Eligibility”
Through conscious Medicaid planning, New York residents may be able to preserve some of their assets for their children or other heirs while still meeting Medicaid’s income requirements. One means of achieving this is through the establishment of a trust. By placing assets into certain types of trusts an individual can eliminate their countable assets for Medicaid eligibility purposes. However, only certain trusts may be useful in qualifying for Medicaid. Continue reading “Which Trust Helps Me Qualify for Medicaid?”
There are a number of reasons why a Social Security Disability (SSD) application can be denied, including earning above the annual income threshold, the severity of the disability and the amount of time the individual will be disabled, refusal to operate or communicate with the Social Security Administration (SSA) or Disability Determination Services (DDS), failure to follow a doctor’s prescribed therapy if he or she is able to do so, conviction of a crime or fraud, among other circumstances. Continue reading “What Do I Do if My New York Social Security Disability Application Was Denied?”