Public Benefits & Supportive Programs
Social service programs, such as Medicaid, Veterans’ benefits, and Supplemental Security Income (SSI), provide disabled Americans with income, health insurance, and the care assistance they need. Millions more may be unaware they are eligible for these programs.
For those experiencing age-related disabilities, a benefits “checkup” is essential to ensure they are accessing all that is available to them. Depending on an individual’s age, income, assets, and level of disability, these programs can help pay for long-term care, housing, rental assistance, day programs, and individualized health care, just to name a few. The options are extensive but hard to access.
Frequently, demonstrating eligibility for benefits is only the first step. The application process for these benefits is complex and confusing, often requiring significant amounts of paperwork that few have readily accessible and may have disposed of years ago.
The Public Benefits Specialists of Rothkoff Law Group are experienced and knowledgeable in identifying which benefits are most appropriate. This team is also experienced at obtaining, and maintaining benefits such as Medicaid, Veterans’ benefits, Social Security, and Medicare. We are a resource, support, and guide for those trying to navigate the maze of benefits programs.
Financial Planning and Asset Preservation
Obtaining public benefits and accessing social service programs is a huge victory, but a risk remains: benefits can be easily lost.
Recipients of Veterans’ benefits, Medicaid, and certain types of Social Security income can incur reduction or loss of essential public benefits if they receive:
- An inheritance
- A substantial gift
- Personal injury or judicial settlement
- Monetary award
Reestablishing eligibility for benefits is a long and cumbersome process; often equally, if not more complicated than establishing original eligibility. However, planning tools exist to preserve assets while maintaining eligibility for public benefits, regardless of age, amount of funds, or type of care needed.
The tools available depend on the benefits sought. However, often families are seeking to preserve the benefits of a child or grandchild with special needs. In this regard, Special Needs Trusts, and ABLE accounts are two tools used frequently.
A Special Needs Trust (SNT), also referred to as a Supplemental Needs Trust, allows disabled individuals receiving SSI or Medicaid while maintaining access to these resources for their benefit. The funds held in the SNT must be used for expenses that supplement public benefits, such as education costs, vacations, home modifications, and hobbies. Similarly, ABLE Accounts are savings accounts for people disabled before the age of 26. Funds in the account up to $100,000.00 do not impact eligibility for Medicaid and SSI. Contributions to the account can be made by anyone – the disabled beneficiary, family, a kind benefactor.