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Savings Accounts for people with disabilities at risk of imploding

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New state-based accounts that let disabled people work and save money without risking the loss of government aid are slowly catching on. But advocates say millions more people with disabilities could be taking advantage of the accounts. [Money can only be used on disability related expenses, which the IRS hasn't defined yet]


The analysis estimated that 450,000 funded accounts [only 40,000 have been opened] were needed by mid-2021 for most programs “to approach self-sustainability.” It recommended “critically important” changes to make the program more robust, including expanding the pool of eligible participants.


A disabled person generally can’t have more than $2,000 in savings or other assets to qualify for Medicaid health coverage or Supplemental Security Income, which helps low-income disabled people. [Pay days just before the 1st of the month suck since it takes 7 days to move money from my checking to my ABLE Account, meaning I have to make room in my account so I'm not over $2k on the 1st]


Rip my $13k. This is a Savings Account, and yet they still fucked it up. This entire program could have been a column in a Social Security Administration database, but no, had to over engineer it and have each State reinvent the wheel.

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