GOVERNMENT BENEFITS

Government Benefits

Government benefits help provide a foundation of support for your child, and your Special Needs Financial Plan, but navigating them can be confusing and frustrating. What’s more—government funding is not guaranteed given shifting political funding priorities and very specific eligibility requirements that must be followed. Your child may be eligible for benefits that you’re not aware of, and if you child receives benefits, it can be easy to jeopardize critical assistance without realizing it.

Let’s start with understanding the different government benefits like SSI, SSDI, Medicaid, and housing assistance. From here, we can determine which programs your child is most likely to receive and map out a timeline and process for securing eligibility. The following is a broad overview of programs available.

What Government Benefits Are Available for Individuals With Special Needs?

Supplemental Security Income (SSI)
SSI is a federal program providing supplemental monthly cash assistance payments to individuals with qualifying disabilities (or those over age 65 or the blind) who have very limited income and resources. This income is meant to pay for your child’s basic needs, specifically housing costs.
Social Security Disability Insurance (SSDI)
SSDI is an entitlement program based on one’s work history and contributions into the Social Security system. Some of the program’s qualification requirements will vary based upon the individual’s age, work history, and the individual must have a qualifying disability lasting at least one year. Unlike SSI, there is no asset limit for qualification. Childhood Disability Benefits (CDB), formerly known as Disabled Adult Child (DAC) benefits, require that the qualifying disability begins before age 22. Your child may qualify for benefits under your record if you or your spouse are receiving Social Security Disability Insurance (SSDI), or if either of you are retired and receiving Social Security retirement benefits.
Medicaid
This program offers much more than just low-cost health insurance and prescription drug coverage. In Illinois, it is through the Medicaid system that housing and therapies are paid. Medicaid can also pay for durable medical equipment, vocational training and a job coach, and medically necessary transportation to and from appointments. Asset limitations and eligibility requirements apply.
Medicare
Medicare is a federal health insurance program that provides coverage for those over the age of 65 and individuals with disabilities who have received SSDI for two years. Through Parts A, B, and D, Medicare helps pay for doctor and hospital visits, prescriptions, etc. It does not pay for long-term care, but one can receive both Medicaid and Medicare at the same.
SNAP Food Benefits
The Supplemental Needs Assistance Program (formerly Food Stamps) provides a modest amount of additional cash support that may be spent only on certain grocery foods at authorized food retail stores. Applications and program eligibility requirements apply.

Protecting Government Benefits

No matter what stage of financial planning you are in, I can work with you to understand, maximize, and protect the government benefits you or your loved one with special needs receives. To get started, you can learn more about my special needs financial planning services here, or click the link below to schedule an initial consultation.

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How can we help you? The first step is scheduling a brief consultation so the we can better understand you questions, concerns, goals and how we can partner together.

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GOVERNMENT BENEFITS