SSI Income And Resources Rules Need Fixing And ABLE Isn't The Solution
From Robert Farrington, writing for the Washington Post : Living with a disability comes with all kinds of challenges, but the financial impact of being unable to work can be absolutely devastating. Imagine not being able to support yourself due to your disability, but also not being able to save money so you can continue qualifying for government aid including Supplemental Security Income (SSI). To qualify for SSI, your countable resources must not be worth more than $2,000 for an individual or $3,000 for a couple. No matter how you cut it, that�s not very much. This situation creates a kind of forced poverty for many individuals with a disability and the family members who care for them. But many experts say that the 529 ABLE Account, which was first introduced in 2014, can help curb this ongoing problem. ... Contribution limits are extremely generous. With a 529 ABLE Account, individuals with disabilities are able to save up to $15,000 per year in 2...