Introduction: Working while receiving Supplemental Security Income (SSI) benefits can be a challenging balancing act. On one hand, it offers individuals the opportunity to earn additional income and gain a sense of independence. On the other hand, it comes with a set of regulations and considerations that can significantly impact one’s financial stability and overall well-being. In this blog post, we’ll explore the implications and strategies for navigating the impact of working while on SSI benefits. Understanding SSI Benefits: Supplemental Security Income (SSI) is a federal program that prov ..read more

In the realm of financial planning for individuals with disabilities, there are various tools available to help manage assets and secure a stable future. Among these tools, ABLE accounts and First-Party Special Needs Trusts (SNTs) stand out as prominent options. Both serve distinct purposes and offer unique benefits tailored to the specific needs of individuals with disabilities and their families. In this blog post, we’ll explore the similarities and differences between ABLE accounts and First-Party SNTs to help you navigate these important financial considerations. Similarities: 1. Financial ..read more

Overview of First Party SNTs First-party special needs trusts, often referred to as “self-settled” or “payback” trusts, play a crucial role in providing financial security for individuals with disabilities. These trusts are established using the assets of the individual with disabilities and are designed to maintain their eligibility for government benefits while safeguarding their future. In this blog post, we’ll explore the taxation aspects of first-party special needs trusts, helping you understand how these trusts work from a tax perspective and their implications for the beneficiary. Unde ..read more

A Durable Power of Attorney (DPOA) is a powerful legal tool that allows you to designate someone to act on your behalf in financial and legal matters if you become incapacitated. One crucial decision to consider when creating a DPOA is whether to grant your agent the authority to change beneficiary designations on your accounts. While this decision may seem significant, there are compelling reasons to allow your agent to make changes to beneficiary designations. In this blog post, we’ll explore the importance of including this authority in your DPOA, highlighting the potential benefits and con ..read more

When faced with a terminal illness or condition, more people than ever are choosing hospice care over starting or continuing expensive medical treatments. Hospice care is for patients who choose not to undergo specific treatments or when they are no longer effective. Instead, the focus is on the patient’s comfort and quality of life. Care is received at home or in a facility, such as a hospital or a nursing home. In addition to supporting the patient’s end-of-life needs, hospice care includes the needs and concerns of the patient’s family. Before opting for hospice care, patients should talk w ..read more

Know your options and get free help… Medicare’s open enrollment period is the time for you to review your plan options and make any changes to your Medicare coverage. Maybe you have a new prescription that is not covered by your current drug plan or you have a new health condition. To ensure you get the most from Medicare in 2023, you should research your health and drug plan options during Medicare open enrollment. Open enrollment closes Dec. 7. Changes made during this time will take effect on Jan. 1, 2024. During open enrollment, you can adjust your Medicare health or drug coverage: Change ..read more

Beware of ‘Free Genetic Testing’ Medicare Scam Over the past few years, DNA tests have become more popular across the country. However, unscrupulous people are taking advantage of the buzz around these tests to scam Medicare beneficiaries. Scammers target Medicare beneficiaries through telemarketing calls, booths at public events, health fairs and door-to-door visits. They offer “free” genetic testing to help recipients avoid diseases or find the right medications. The scammers claim the testing is covered by Medicare, and therefore is free to the beneficiary. In reality, Medicare only covers ..read more

According to ACL.gov, research suggests that most Americans turning age 65 will need some form of assistance with everyday activities, known as long-term care, as they grow older. The amount of care needed will depend on many variables, including overall health, cognitive functioning, and home environment. Age is a strong predictor of the need for help, and because women live longer on average, they are more likely than men to require long-term care. Regardless of gender, factors such as a disability, injury, or chronic illness also increase the chance that long-term care will be needed. For s ..read more

Adult Day Care Centers are designed to provide care and companionship for seniors who need assistance or supervision during the day. The program offers relief to familymembers or caregivers and allows them the freedom to go to work, handle personal business or just relax while knowing their relative is well cared for and safe. View the Admininstration for Community Living (ACL.gov) website for a great overview: https://acl.gov/sites/default/files/news%202017-03/Adult_Day_Care_1.pdf The post Adult Day Care Primer and Considerations appeared first on Kathie Brown Roberts P.C ..read more

The Social Security Administration (SSA) has proposed a rule change that would omit food from the in-kind support and maintenance (ISM) calculations used to determine Supplemental Security Income (SSI) eligibility and payment amounts. This proposed rule change is intended to simplify the rules by making them less cumbersome to administer and easier for SSI applicants and recipients to understand.These simplifications would make it easier for SSI applicants and recipients to comply with our program requirements, which would save time for both the SSA and SSI recipients, and improve the equitabl ..read more