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<DIV>Greetings to all!</DIV>
<DIV>Brian has forwarded to me to forward to the NFBNJ distribution list
highlighting Social Security , SSI and Medicare Facts for 2018.</DIV>
<DIV>Brian has posted the info to the state website.</DIV>
<DIV> </DIV>
<DIV>Please save, and share with others.</DIV>
<DIV> </DIV>
<DIV>We care. We share. We grow. We make a difference<BR>Joe Ruffalo, President
<BR>National Federation of the Blind of New Jersey <BR>973 743
0075<BR>nfbnj1@verizon.net<BR><A
href="http://www.nfbnj.org">www.nfbnj.org</A></DIV>
<DIV>Your old car keys can be keys to literacy for the blind.<BR>Donate your
unwanted vehicle to us by clicking <BR>www.carshelpingtheblind.org <BR>or call
855 659 9314<BR></DIV>
<DIV>**</DIV>
<DIV> </DIV>
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<DIV style="FONT: 10pt tahoma">
<DIV>Updated Social Security, SSI, and Medicare Facts For 2018</DIV></DIV>
<DIV> </DIV></DIV>
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<H1 style="TEXT-ALIGN: center" align=center> </H1>
<H2 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Social
Security, SSI, and Medicare Facts for 2018</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H2>
<P style="BACKGROUND: white; TEXT-ALIGN: center" align=center><SPAN
style="COLOR: black">by John Paré<BR>Reprinted from <EM>The Braille
Monitor</EM>, December 2017<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">About this time each
year, we provide you with details regarding annual adjustments in the Social
Security Disability Insurance (SSDI), Supplemental Security Income (SSI), and
Medicare programs. In 2018 approximately 65 million Americans will see a
cost-of-living adjustment (COLA) increase of 2 percent in their benefit amounts.
Thus, come January, monthly checks will be a few dollars
higher.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The 2018 amounts appear
below along with some concepts which are always good to know about the Social
Security and Medicare programs if you want to understand your rights. The COLA
adjustment (if any) is based upon the consumer price index (CPI-W), which
measures the inflationary rate against the wages earned by the approximately 173
million workers across the nation over the previous four quarters starting with
the third quarter of the previous year. Okay, here are the
numbers:<o:p></o:p></SPAN></P>
<H3 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Tax
Rates</SPAN></STRONG><SPAN style="COLOR: black"><o:p></o:p></SPAN></H3>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>FICA
and Self-Employment Tax Rates:</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">If you have a job, you
know that you do not bring home everything you earn. For example, 7.65 percent
of your pay is deducted to cover your contribution to the Old Age, Survivors,
and Disability Insurance (OASDI) Trust Fund and the Medicare Hospital Insurance
(HI) Trust Fund. Specifically, 6.20 percent covers OASDI, and 1.45 percent is
contributed to the HI Trust Fund. Additionally, your employer is required to
match this 7.65 percent for a total of 15.30 percent.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">For those who are
self-employed, there is no “employer” to match the 7.65 percent. Thus, a
self-employed individual pays the entire 15.30 percent of her income. These
numbers will not change in 2018 whether an individual is employed or
self-employed. As of January 2013, individuals with earned income of more than
$200,000 ($250,000 for married couples filing jointly) pay an additional 0.9
percent in Medicare taxes, not including the above
amounts.<o:p></o:p></SPAN></P>
<H3 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Maximum
Taxable Earnings</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H3>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">For the OASDI Trust
Fund, there is a ceiling on taxable earnings, which was $127,200 per year in
2017 and will jump to $128,700 in 2018. Thus, for earnings above $128,700, there
is no 6.20 percent deducted for OASDI. As for Medicare, there is no limit on
taxable earnings for the HI Trust Fund. <o:p></o:p></SPAN></P>
<H3 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Social
Security Disability Insurance (SSDI)</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H3>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Quarters
of Coverage</SPAN></STRONG><SPAN style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">I always like to compare
the OASDI Trust Fund to an insurance policy. You have to pay a premium to
participate. Therefore, to qualify for Retirement, Survivors, or Disability
Insurance benefits, an individual must pay a minimum amount of FICA taxes into
the OASDI Trust Fund by earning a sufficient number of calendar quarters to
become fully insured for Social Security benefits.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">In 2017 credit for one
quarter of coverage was awarded for any individual who earned at least $1,300
during the year, which means that an individual would have needed to earn at
least $5,200 to be credited with four quarters of coverage. In 2018 the amount
increases to $1,320 for one calendar quarter or $5,280 to earn four quarters of
coverage for the year.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">A maximum of four
quarters can be awarded for any calendar year, and it makes no difference when
the income is earned during that year. Basically, the taxes you pay into the
OASDI and HI Trust Funds are your premiums to participate in the Social Security
and Medicare programs.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The total number of
quarters required to be eligible for benefits depends on the individual’s age.
The older the individual, the more quarters are required. Furthermore, a higher
average income during an individual’s lifetime means a higher Social Security or
SSDI check when benefits start. Remember the above quoted numbers for quarters
of coverage to become fully insured are only minimum
amounts.<o:p></o:p></SPAN></P>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Trial
Work Period (TWP)</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">This concept is often
misunderstood. The amount of earnings required to use a trial work month is
based not upon the earnings limit for blind beneficiaries, but rather upon the
national average wage index. In 2017, the amount required to use a TWP month was
only $840, and this amount will increase to $850 in 2018.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">If you are
self-employed, you can also use a trial work month if you work more than eighty
hours in your business, and this limitation will not change unless expressly
adjusted.<o:p></o:p></SPAN></P>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Substantial
Gainful Activity (SGA)</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The earnings limit for a
blind beneficiary in 2017 was $1,950 per month and will rise to $1,970 in 2018.
Remember this is not the TWP amount. This is to say that the TWP can be
exhausted even if your income is well below $1,970 per month. See the above
information about the TWP.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">In 2018 a blind SSDI
beneficiary who earns $1,971 or more in a month (before taxes but after
subtracting unincurred business expenses for the self-employed, subsidized
income for the employed, and impairment-related work expenses for both) will be
deemed to have exceeded SGA and will likely no longer be eligible for
benefits.<o:p></o:p></SPAN></P>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Social
Security Benefit Amounts</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">In January of 2018, the
average amount of SSDI benefits for a disabled worker is estimated to rise by
about $24 to $1,197. Pursuant to the Social Security Act, a cost-of-living
adjustment occurs automatically when there is an increase in inflation as
measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W). The CPI-W indicated an inflationary rate of 2.0 percent between the
third quarter of 2016 and the third quarter of 2017. Thus, there is a
corresponding COLA increase in 2018 and an increase in monthly benefit
amounts.<o:p></o:p></SPAN></P>
<H3 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Supplemental
Security Income (SSI)</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H3>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The federal payment
amount for individuals receiving SSI in 2017 was $735 and will increase to $750
in 2018, and the federal monthly payment amount of SSI received by couples will
rise from $1,103 to $1,125.<o:p></o:p></SPAN></P>
<H4 style="BACKGROUND: white"><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Student
Earned Income Exclusion</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">In 2017 the monthly
amount was $1,790 and will increase to $1,820 in 2018. The annual amount was
$7,200 and will be $7,350 in 2018. The asset limits under the SSI program will
remain unchanged at $2,000 per individual and $3,000 per
couple.<o:p></o:p></SPAN></P>
<H4 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>ABLE
Act</SPAN></STRONG><SPAN style="COLOR: black"><o:p></o:p></SPAN></H4>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Signed on December 19,
2014, the ABLE Act will have a significant impact on resource limits associated
with the SSI and Medicaid programs for those who were blind or disabled by the
age of twenty-six. Traditionally, SSI beneficiaries have been required to adhere
to strict resource limits such as a maximum of $2,000 in the bank for an
individual receiving SSI benefits. Under the ABLE Act, however, the amount on
deposit in an ABLE Account can be much higher.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">ABLE Account
contributions must be designated specifically for purposes such as education,
housing (with a cautionary warning to follow), employment training and support,
assistive technology, health, prevention and wellness, financial management,
legal fees, and funeral and burial expenses. The required implementing
regulations are being enacted in most states. Check with your financial
institution of choice for a status of ABLE Act regulations in a specific
state.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">As to the warning about
ABLE Account contributions for housing, it is important to note that SSI
beneficiaries may still face the traditional $2,000 resource limit for ABLE
Account funds designated for housing. Thus, SSI beneficiaries should consider
the many other purposes not subject to the traditional resource limits when
making ABLE Account contributions. Because there are also tax advantages
associated with ABLE accounts, both SSDI and SSI beneficiaries should consult a
financial advisor about establishing an ABLE Account. <o:p></o:p></SPAN></P>
<H3 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>Medicare</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H3>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">At this writing, the
Department of Health and Human Services has not released updated information
regarding deductibles, coinsurance amounts, and premiums for 2018. Updated
Medicare information will be provided in an upcoming issue of the Braille
Monitor. But for illustrative purposes, here are details regarding the numbers
from 2016 compared to 2017. <o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Medicare Deductibles and
Coinsurance: Medicare Part A coverage provides hospital insurance to most Social
Security beneficiaries. The coinsurance amount is the hospital charge to a
Medicare beneficiary for any hospital stay. Medicare then pays the hospital
charges above the beneficiary’s coinsurance amount.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The Part A hospital
inpatient deductible was $1,288 in 2016 and increased to $1,316 in 2017. The
coinsurance charged for hospital services within a benefit period of no longer
than sixty days was $0 in 2016. From the sixty-first day through the ninetieth
day, the daily coinsurance amount was $322 per day in 2016 and rose slightly to
$329 in 2017. Each Medicare beneficiary has sixty lifetime reserve days that may
be used after a ninety-day benefit period has ended. Once used, these reserve
days are no longer available after any benefit period. The coinsurance amount
paid during each reserve day used in 2016 was $644 and in 2017 was
$658.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Part A of Medicare pays
all covered charges for services in a skilled nursing facility for the first
twenty days following a three-day in-hospital stay within a benefit period. From
the twenty-first day through the one hundredth day in a benefit period, the Part
A daily coinsurance amount for services received in a skilled nursing facility
was $161 for 2016 and rose just slightly to $164.50 in
2017.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Most Social Security
beneficiaries have no monthly premium charge for Medicare Part A coverage. Those
who become ineligible for SSDI can continue to receive Medicare Part A coverage
premium-free for at least ninety-three months after the end of a trial work
period. After that time the individual may purchase Part A coverage. The premium
rate for this coverage during 2016 was $411 monthly and increased to $413 in
2017. <o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The annual deductible
amount for Medicare Part B (medical insurance) in 2016 was $166 and rose to $183
in 2017. The Medicare Part B monthly premium rate for 2016 was $121.80 per month
and rose to $134 in 2017. For those receiving Social Security benefits, this
premium payment is deducted from your monthly benefit check. Individuals who
remain eligible for Medicare but are not receiving Social Security benefits due
to work activity must directly pay the Part B premium quarterly—one payment
every three months. Like the Part A premiums mentioned above, Part B is also
available for at least ninety-three months following the trial work period,
assuming an individual wishes to have it and, when not receiving SSDI, continues
to make quarterly premium payments.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Programs That Help with
Medicare Deductibles and Premiums: Low-income Medicare beneficiaries may qualify
for assistance through four Medicare Savings Programs. We will discuss three of
them here and leave the fourth one alone because (to qualify for it each year)
you must already be on it, and you know who you are. Note: the amounts below may
change in 2018. We begin with the Qualified Medicare Beneficiary program (QMB)
and the Specified Low-Income Medicare Beneficiary program (SLMB). To qualify for
the QMB program in 2017, an individual’s monthly income could not exceed $1,025,
and a married couple’s monthly income could not exceed $1,374. To qualify for
the SLMB program in 2017, an individual’s monthly income could not exceed
$1,226, and a married couple’s monthly income could not exceed $1,644.
<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Both the QMB and SLMB
programs are administered by the Centers for Medicare and Medicaid Services in
conjunction with the states. The rules vary from state to state, but the
following can be said: As of 2017, resources (such as bank accounts or stocks)
could not exceed $7,390 for one person or $11,090 per couple.
<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">Under the QMB program,
states are required to pay the Medicare Part A (Hospital Insurance) and Part B
(Medical Insurance) premiums, deductibles, and coinsurance expenses for Medicare
beneficiaries who meet the program’s income and resource requirements. Under the
SLMB program, states pay only the full Medicare Part B monthly premium.
Eligibility for the SLMB program may be retroactive for up to three calendar
months. <o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The third program, known
as the Qualified Disabled and Working Individuals (QDWI) Program, pays Part A
premiums only and has resource limits of $4,000 for one person and $6,000 for a
married couple. As to these programs, resources are generally things you own.
However, not everything is counted. Examples of things that don’t count include
the house you live in, one car, a burial plot (or $1,500 put aside for burial
expenses), and furniture. <o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">If you qualify for
assistance under the QMB program, you will not have to pay the following:
Medicare’s hospital deductible amount, the daily coinsurance charges for
extended hospital and skilled nursing facility stays; the Medicare Part B
(Medical Insurance) premium, the annual Part B deductible; and the coinsurance
for services covered by Medicare Part B, depending on which doctor you go to
(these services include doctor services, outpatient therapy, and durable medical
equipment). <o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">If you qualify for
assistance under the SLMB program, you will be responsible for the payment of
all of the items listed above except for the monthly Part B premium, depending
on your circumstances.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">If you think you qualify
but you have not filed for Medicare Part A, contact Social Security to find out
if you need to file an application. Further information about filing for
Medicare is available from your local Social Security office or Social
Security’s toll-free number (800) 772-1213.<BR>Remember that only your state can
decide if you are eligible for help from the QMB or SLMB program and also that
the income and resource levels listed here are general guidelines, with some
states choosing greater amounts. Therefore, if you are elderly or disabled, have
low income and very limited assets, and are a Medicare beneficiary, contact your
state or local Medicaid office (referred to in some states as the public aid
office or the public assistance office) to apply. For more information about
either program, call the Centers for Medicare and Medicaid Services (CMS) on its
toll-free number (800) 633-4227, or visit <A href="http://medicare.gov/"
target=_blank><SPAN
style="COLOR: #24890d">Medicare.gov</SPAN></A>.<o:p></o:p></SPAN></P>
<H2 style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style='FONT-FAMILY: "Calibri Light",sans-serif; FONT-WEIGHT: normal; COLOR: black'>ABLE
Act (Achieving A Better Life Experience) Accounts</SPAN></STRONG><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H2>
<P style="BACKGROUND: white; TEXT-ALIGN: center" align=center><STRONG><SPAN
style="COLOR: black">General Information Compiled by Barbara
Shalit</SPAN></STRONG><B><SPAN style="COLOR: black"><BR><STRONG>Reprinted from
</STRONG><EM>The Sounding Board</EM><STRONG>, Spring
2016</STRONG></SPAN></B><SPAN style="COLOR: black"><o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><EM><B><SPAN style="COLOR: black">Editor’s Note:
Money held in an ABLE account is exempt from the $2,000 limit on personal assets
for individuals who wish to qualify for public benefits such as Medicaid and
Supplemental Security Income (SSI).</SPAN></B></EM><SPAN
style="COLOR: black"><o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The Achieving a Better
Life Experience (ABLE) Act of 2013 passed the U.S. House of Representatives and
the Senate in December 2014. In New Jersey, Governor Christie signed bills S2770
and A3956 into law on January 11, 2016. Starting in October 2016, people with
disabilities will be able to open ABLE Accounts in New
Jersey.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">The ABLE Act creates
tax-free savings accounts for people with disabilities. This means that people
with disabilities will be able to accrue up to $100,000 in savings without
losing access to Social Security and other government benefits, and Medicaid
coverage will remain intact no matter how much is saved in the person’s ABLE
account.<o:p></o:p></SPAN></P>
<P style="BACKGROUND: white"><SPAN style="COLOR: black">ABLE accounts can be
used to cover qualified expenses, such as education, housing and transportation,
employment training and support, assistive technology, personal support
services, health care expenses, financial management and administrative
services, among others. Accounts may be established in any state, regardless of
residence, allowing individuals and families to shop around for the state
program that best suits their needs. Here are some other key points about the
ABLE Act:<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">Only one account per person is
permitted.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">Each state will have its own
regulations.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">Contributions may be made by
anyone and may or may not be tax deductible, depending on that state’s ABLE law.
Interest earnings are not taxed.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">Eligibility is limited to
individuals with significant disabilities with an age of onset of disability
before turning age 26.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">If you receive SSI and/or SSDI
benefits, you are automatically eligible. Otherwise, if you meet the age of
onset disability requirement, you are still eligible to open an ABLE account if
you have a disability certification from your physician.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">Total annual contributions by
all participating individuals, including family and friends, is $14,000,
adjusted annually for inflation. The total limit over time will be subject to
the individual state. Many states have set this limit at over
$300,000.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">When an ABLE account exceeds
$100,000, the beneficiary will be suspended from SSI eligibility and no longer
receive that monthly income. However, the beneficiary will still be eligible for
Medicaid.<o:p></o:p></SPAN></P>
<P class=MsoNormal
style="BACKGROUND: white; MARGIN-LEFT: 15pt; TEXT-INDENT: -0.25in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; mso-list: l0 level1 lfo1"><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: symbol; COLOR: black"><SPAN
style="mso-list: ignore">·<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN></SPAN><SPAN style="COLOR: black">The act contains a Medicaid
pay-back provision when the beneficiary dies.<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 14pt; FONT-FAMILY: "Times New Roman",serif'><o:p></o:p></SPAN> </P></DIV></DIV></DIV></DIV></BODY></HTML>