SSI, Medicaid, and ABLE
Government Benefits
To qualify for many government programs, an individual must meet strict — and very low — income and asset levels. Careful planning helps preserve eligibility.
For Medicaid, the limits vary state to state, but in general an individual within 133% of the federal poverty level may qualify. Earning more than that threshold can mean losing access to benefits. Navigating the rules regarding Social Security benefits can be a tricky endeavor. There may be things that you think are appropriate only to find out that they reduce benefits.
Items that can reduce SSI benefits
The complexities, nuances, and changing legal and financial environments are reasons why you need a team to help you navigate and put you and your family in the best situation.
- Basic shelter-related expenses
- Food
- Basic items of clothing
- Cash for any purpose
ABLE is one tool — not the whole plan
An ABLE account can be a useful way to save for qualified disability expenses, but it may limit or reduce government assistance depending on how it is funded and used. Special needs trusts remain a primary vehicle for providing funds to a disabled beneficiary without interfering with eligibility for government assistance. GVA Legacy helps families understand how these tools can work together.
Ready to start the conversation?
There is no charge for the initial consultation. Let’s talk about the plan your family needs — for this generation and the next.