ABLE National Resource Center ABLE Accounts are tax-advantaged savings accounts for individuals with disabilities and their families that allow beneficiaries to save beyond federal Medicaid asset limits. The ABLE National Resource Center (ANRC) is a collaborative whose supporters share the goal of accelerating the design and availability of ABLE accounts for the benefit of individuals with disabilities and their families.
Special Needs Trusts (SNT) By putting assets into a SNT, a person with a disability can receive public benefits and conserve his or her assets. These assets can be later used to pay for certain expenses which will improve the quality of their life. WisPACT manages pooled trusts, but also provides resources about first and third party Special Needs Trusts.
Independence Accounts (for people enrolled in MAPP) “An Independence Account is any new financial account set up through a financial institution, such as a bank or credit union, and registered with the local agency. Pre-existing retirement and pension accounts may also be used as Independence Accounts subject to similar contribution restrictions applicable for new accounts. By setting up Independence Accounts, participants can save earnings above the Medicaid Purchase Plan asset limit ($15,000) to buy independence-related items (i.e., a home or vehicle) or services.”
GreenPath Financial Wellness Free services provided: Debt Counseling, Debt Management, Credit Report Review, Housing Services, Student Loan Counseling, Bankruptcy Counseling Mint: Budget, Budgeting Goals Get help creating a budget, tracking your spending, and improving your daily money management.
American Association of Daily Money Managers (AADMM) Sometimes the best way to focus on your personal wellness is to work with someone who can manage the day-to-day of your income and expenses. AADMM provides a list of Daily Money Managers that can help with daily financial tasks.
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