Fw: Friday, July 8 News Clips/ savings program for individuals with disabilities
Phil Pearson
Dear Phil,
Thank you for thinking of us for this.
We have looked into this and so far, virtually every state that is moving forward with these accounts is doing it through a “state plan,” and non-profits are not able to do this.
Plus (more importantly), there are significant requirements in the law that make these type of accounts very problematic for me.
Here is a link to a decent review of the accounts:
https://www.youtube.com/watch?v=Gd3UokkWJiQ
I think that these accounts are good for a small percentage of people who are disabled, working (and earning decent money) and are capable of investing the funds within the state plan and then capable of spending the funds w/in the limits required to maintain their benefits. This is Medicaid payback money and some people are claiming that they are not.
Thus, if you put money into this type of account, it would be “wasted” upon Bill’s death as it would be used to pay back the Medicaid Lien. By placing the money (which you are doing) in a 3rd Party Trust, it goes to your relatives.
At this time, Life Services does not have anyone that I think could benefit from this type of trust.
There is also a limit on how much money can go into the trust every year.
For somebody on SSI – there is a real positive – in that funds spent from an ABLE account DON’T reduce their SSI when spent on housing, shelter and food (this is covered in the link). So far, this is the only reason that I could see this as being beneficial for Life Services members in the future.
I am planning on being in Florida before or after October 19th for a conference. I will be making travel plans far earlier than normal this time – I would like to meet with you and the family either before or after the conference. As I get further along with this, I will reach out to you for timing considerations.
Lee
Lee A. Ackerman, Executive Director
ACT for Life Services
Advocacy, Comprehensive Planning and Trust Services for Individuals with Disabilities
Disabled and Alone / Life Services for the Handicapped
1440 Broadway, 23RD Floor
New York, NY 10018-2326
Phone: (212) 532-6740
Fax: (212) 532-3588
Toll Free: (800) 995-0066
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From: Phil Pearson
[mailto:ppea...@mindspring.com]
Sent: Friday, July 8, 2016 12:58
PM
To: Lee Ackerman
<lack...@disabledandalone.org>
Subject: Fwd: Friday, July 8
News Clips/ savings program for individuals with
disabilities
Importance: High
Hi lee, are u guys looking into this?
Phil
Sent from my Samsung Galaxy Tab® S
-------- Original message
--------
From: Diana Martin <Diana....@Apdcares.Org>
Date: 07/08/2016 11:10 AM (GMT-05:00)
To: Harold Cassady <Harold....@Apdcares.Org>
Subject: Friday, July 8 News Clips/ savings program for individuals with
disabilities
Good morning to all,
ABLE United accounts are now available for individuals with disabilities, and their families, and friends to help save for future expenses.
GARDINER TOUTS 'ABLE' PROGRAM FOR PEOPLE WITH DISABILITIES
THE NEWS SERVICE OF FLORIDA, July 7, 2016
Senate President Andy Gardiner,
state Rep. Ray Rodrigues and other supporters Thursday touted a new program that
will allow many Floridians with disabilities to enroll in tax-free savings and
investment accounts without jeopardizing government benefits. Under Florida's
Achieving a Better Life Experience Act, or ABLE, qualified people with
disabilities will be allowed to save up to $14,000 a year without the cash
impacting their Supplemental Security Income or Medicaid eligibility. Before the
ABLE Act, people could generally only have $2,000 worth of assets and income of
no more than $700 a month to remain qualified for the government benefits.
Gardiner, whose son has Down syndrome, has made a top priority of programs to
help people with disabilities. He took part in a news conference Thursday at the
Capitol that also included Rodrigues, an Estero Republican who has a son with
special needs. "We have now given an opportunity for these individuals to do
their best," Rodrigues said. "They are no longer going to be faced with a choice
of, 'If I seek independence and I fail, I will lose the safety net.'
"
Sincerely,
Diana M. Martin
Sr. Human Services Program Manager
Agency for Persons with Disabilities
Northeast Region – Field office 12
210 N. Palmetto Avenue, Suite 312
Daytona Beach, Fl. 32114
(386) 947-4022, Fax (386) 238-4753
e-mail: Diana....@apdcares.org
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