The Reeve Foundation will be hosting a free webinar on Thurs., June 27th on ABLE accounts as it pertains to individuals with paralysis looking to utilize this type of account in the most practical way to keep extra income safe to sustain one’s quality of life and needs. Individuals living with disabilities face extra costs of living and depend on a variety of public benefits that while helpful, require them to stay within certain financial limits to be eligible for these programs and an ABLE savings account, which gives individuals and their families the ability to establish savings without affecting their eligibility to these public benefits.
Millions of individuals with disabilities and their families depend on a wide variety of public benefits for income, health care and food and housing assistance. Eligibility for these public benefits (SSI, SNAP, Medicaid) require meeting a means or resource test that limits eligibility to individuals to report more than $2,000 in cash savings, retirement funds and other items of significant value. To remain eligible for these public benefits, an individual must remain poor. For the first time in public policy, the ABLE Act recognizes the extra and significant costs of living with a disability. These include costs, related to raising a child with significant disabilities or a working age adult with disabilities, for accessible housing and transportation, personal assistance services, assistive technology and health care not covered by insurance, Medicaid or Medicare.
The webinar is free and runs from 11 a.m.-Noon Pacific Time and will be hosted by Mary Anne Ehlert, CFP®, a financial professional with extensive experience working with families of individuals with disabilities and the elderly on their financial planning. Register to view it HERE.