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Anything you have in theABLE account will not count toward your asset limits for any federal or state program. That does include blind pension. The downside is that if you have $100,000 in that account and you pass away, the state, then has the ability to clawback
the funds. Basically, the state, can say that those funds are theirs now as opposed to going to your spouse. they say that they don’t do it, but the right is there and if the right amount is saved, who’s to say they won’t. That’s just my thought on it. <br>
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<blockquote type="cite">On Mar 1, 2023, at 3:19 PM, Gary Wunder via MissouriAffiliateLeaders <missouriaffiliateleaders@nfbnet.org> wrote:<br>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">As cool as this is, does the blind pension asset amount exclude these?<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> MissouriAffiliateLeaders <missouriaffiliateleaders-bounces@nfbnet.org>
<b>On Behalf Of </b>mizzoufan1979--- via MissouriAffiliateLeaders<br>
<b>Sent:</b> Wednesday, March 1, 2023 1:56 PM<br>
<b>To:</b> 'NFB of Missouri Mailing List' <nfbmo@nfbnet.org>; 'NFB of Missouri Affiliate Leaders List' <missouriaffiliateleaders@nfbnet.org><br>
<b>Cc:</b> mizzoufan1979@gmail.com<br>
<b>Subject:</b> [MissouriAffiliateLeaders] Information on ABLE accounts<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Last week I attended a session on ABLE accounts put on by an organization of state treasurers.<o:p></o:p></p>
<p class="MsoNormal">With ABLE you can have $100,000 in a dedicated ABLE account to be used for disability related expenses with out affecting any federal program based on need including SSI or Medicaid. The definition of disability related expenses is very
broad and includes things such as rent, utilities and food. It likely usually doesn’t cover things such as trips to Europe for vacation.<o:p></o:p></p>
<p class="MsoNormal">You can contribute up to $17,000 annually to the account and if you are working you may be able to contribute even more.<o:p></o:p></p>
<p class="MsoNormal">To be eligible currently your disability must be documented prior to age 26.<o:p></o:p></p>
<p class="MsoNormal">As of January 1,2026 the eligibility age will change to age 46.<o:p></o:p></p>
<p class="MsoNormal">For much more including the full seminar go to <a href="https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.abletoday.org%2FSSA&data=05%7C01%7C%7C9d3f2c93206e414590c908db1a9a9428%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638133023433146752%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=lefO8PHKIRHVcNxzX5X6uQPmucOIBpYAmDRbRh7knEY%3D&reserved=0" originalsrc="http://www.abletoday.org/SSA" shash="zgMo5Ru7eIitTw0zaP6Knb1SBiTta5/lAparR2UOjPDvUvwzKcJRUzN4JhBYVDKuC44ZekScTDJlW8aCm/9JuCvM2ttagpk7jYcHxHIZO2uJPoXH01yTnDHIWXmGItkaQ8aBD8tpk7q5hZV7fY2QqpqSXa9CvG5mp4FGZk2dFcI=">
www.ABLEToday.org/SSA</a><o:p></o:p></p>
<p class="MsoNormal">The seminar lasted about an hour and is well worth it if you have any interest in the program. There was a question and answer period after the seminar but I do not if that is included in the recording.<o:p></o:p></p>
<p class="MsoNormal">Many folks have used their ABLE accounts, for example, to save up for a down payment on a home.<o:p></o:p></p>
<p class="MsoNormal">Hope this is helpful. <o:p></o:p></p>
<p class="MsoNormal">Gene Coulter<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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