Know Before You Go!
Going through the process of determination or re-determination of Medicaid benefits with the Illinois Department of Human Services is an experience that we all know can be stressful for families. So, if you own or manage an IL ABLE Account, know that Medicaid must not count ABLE Account assets as a resource in determining or re-determining Medicaid benefits.
When the caseworker evaluates your information, you may be asked about an ABLE account and the assets in the Account. Make sure that the caseworker checks with Medicaid policy, if needed, and do not allow your ABLE Account assets to be counted as a resource. Caseworkers do their best, but we all make mistakes, and this one could have been avoided.
To help you navigate Medicaid and other key benefits programs and ABLE, see our handy resource list below:
Medicaid
Assets in an IL ABLE Account must not be counted when determining eligibility for “Medicaid applicants and beneficiaries who are subject to the resource test”. The Department of Health and Human Services issued this guidance letter on ABLE Accounts and State Medicaid Programs.
Also, ABLE accounts are addressed in Illinois Medicaid policy and are considered exempt assets – see PM 07-02-18 and PM 07-02-18-l.
Supplemental Security Income (SSI)
Did you know that the average balance of an IL ABLE Account is more than $13,500? If you are receiving or may receive SSI in the future, your ABLE Account allows you to save above the $ 2,000 asset cap. fact, an IL ABLE Account Owner can build savings up to $100,000 without affecting their SSI benefits. If an Account balance exceeds $100,000, SSI benefits are temporarily suspended and resume when the Account is brought below $100,000. Eligibility for SSI is not lost.
Did you know that SSI payments can be direct deposited into an IL ABLE Account? Contact Customer Service at (888) 609-8683, Monday – Friday, 8 am – 5 pm CT to learn more.
Supplemental Nutrition Assistance Program (SNAP) & Housing and Urban Development Housing Assistance Programs (HUD)
As with Medicaid, assets in an IL ABLE Account are not counted when determining eligibility for SNAP and HUD benefits. You can read more about how SNAP and HUD treat ABLE Accounts in determining eligibility at the following links:
- SNAP: Treatment of ABLE Accounts in Determining SNAP Eligibility (USDA)
- HUD: Treatment of ABLE Accounts in HUD-Assisted Programs (HUD)
Free Application for Federal Student Aid (FAFSA)
IL ABLE Accounts are a great resource for saving for meaningful Qualified Disability Expenses, such as education. Account Owners who are heading to college and their parents who are completing the FAFSA form do not need to include IL ABLE Account assets when completing the FAFSA form.
Remember: IL ABLE Accounts are asset protectors, not income protectors. An individual’s income may still be considered when determining eligibility for means-tested benefits.
List of links noted in this post:
- Supplemental Security Income (SSI)
- Medicaid
- Illinois Medicaid Policy: PM 07-02-18 and PM 07-02-18-l.
- Supplemental Nutrition Assistance Program (SNAP)
- Housing and Urban Development Housing Assistance Programs (HUD)
- Free Application for Federal Student Aid (FAFSA)
- Qualified Disability Expenses
- Plus these additional References and Resources for ABLE and public benefits you may find useful.
Learn More About IL ABLE
Learn what an IL ABLE disability savings Account is, who is eligible, how to open an Account, and how it can help you save for qualified disability-related expenses while protecting important benefits.
- Visit the IL ABLE website
- Review the Plan Disclosure Booklet
- Explore IL ABLE Investment Options
- Open an IL ABLE Account online
For assistance, call 888-609-8683 Monday through Friday from 8 am to 5 pm CT, or email il.clientservice@savewithable.com. Support is available in multiple languages and for callers who are deaf or hard of hearing.