Special Needs Planning
Government Benefits
If your loved one is not going to have the capacity to work at a level to sustain themselves, then securing disability benefits is crucial. The cost of lifetime care for a person with a disability can prove astronomical. It is therefore essential to create a plan assuring eligibility for governmental benefits to assist in the care of a disabled child.
Some of the Government programs your child could benefit from
Social Security Disability Insurance (SSDI)
Adult disabled children who meet the eligibility criteria can receive SSDI benefits based on their parent’s work record. The parent must be retired, disabled, or deceased and have earned enough Social Security credits to qualify.
Supplemental Security Income (SSI)
SSI is another program that provides financial assistance to disabled individuals with limited income and resources. Adult disabled children may qualify for SSI if they meet the income and resource requirements.
Medicaid
Medicaid is a state-federal program that provides healthcare coverage to low-income individuals, including disabled adults. Eligibility criteria for Medicaid vary by state, but many states offer Medicaid coverage to individuals who receive SSI benefits.
Medicare
If an adult disabled child receives SSDI benefits, they may become eligible for Medicare after a waiting period of two years from the date of their SSDI eligibility.
Dependent Benefits
In some cases, if a parent receives Social Security retirement or disability benefits, their adult disabled child may be eligible to receive dependent benefits based on their parent’s record.
Work Incentives
Many government programs provide work incentives and support for disabled individuals who wish to work. These programs can help individuals maintain benefits while working or transitioning to the workforce.
Our Government Benefits And Estate Planning brochure delves deeper into these benefits.
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