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”