Finances, Assets, and Disability: What You Need to Know

Can a person with a disability work and keep their benefits? Should a parent charge their adult child with a developmental disability room and board after they turn 18? Is it possible for people with disabilities to save money and have it not impact benefits? Could an adult or a child with a disability buy into Medicaid? Might there be resources to provide benefits counseling? We cover that and MUCH MORE in this no-cost, multi-part podcast/vodcast series! Individuals with disabilities, their loved ones, and the professionals in their lives have to navigate many complicated factors when it comes to finances and assets. To help better navigate common questions, THINK+change interviewed professionals who have expertise in finances, benefits, and assets to better understand the unique nuances of disability and finances.

Why you should tune in
There is a lot to keep track of and maintain for yourself or someone in your life with a disability with it comes to finances and assets. This series can help unwind the complicated web and provide valuable resources and tips!

This work was made possible through support from Colorado Developmental Disabilities CouncilArc Thrift StoresDevelopmental Pathways, Limbaugh Law Firm, and The Arc of Aurora.

ABLE Accounts & Asset Limit featuring Mike Keglovits, ABLE & Special Programs Manager at CollegeInvest

  • – The Federal Benefit Asset Limit and introduction into ABLE accounts (2:20)
  • – An ABLE account can help individuals with disabilities save (2:52)
  • – ABLE accounts and Trusts (3:28)
  • – New legislation for ABLE accounts (5:10)
  • – Opening an ABLE account (10:00)
  • Acronym mentioned in this episode: SSI = Social Security Income Websites mentioned:  www.ColoradoABLE.org

Listen to “TRAININGS: E57 ABLE Accounts & Asset Limit” on Spreaker.

Benefits Counseling featuring Shantelle Rockman, Executive Director of Integrating Supports Colorado

  • – What a benefits counselor/planner is (2:37)
  • – The importance of understanding your benefits (4:27)
  • – Staying safe from benefits trafficking (6:20)
  • – How to locate and get started with a benefits counselor/planner (7:14).
  • Acronyms mentioned in this episode: SSI = Social Security Income, SSDI = Social Security Disability Insurance, SNAP = Supplement Nutrition Assistance Program (formerly Food Stamps),  DVR = Division of Vocational Rehabilitation
  • Websites mentioned: co.db101.org or the CO Office of Employment First website, www.employmentfirstcolorado.org
  • Listen to “TRAININGS: E58: Benefits Counseling” on Spreaker.

Medicaid Buy-In featuring Beverly Hirsekorn, Disability, and Aged Policy and Program Performance Coordinator at CO Department of Health Care & Financing (HCPF)

Common Work & Financial Questions featuring Melanie Honsbruch, CPWIC, Curriculum Developer and Trainer at the Colorado Office of Employment First (OEF)

  • – The “Employment First” philosophy (1:55);
  • – Where “Employment First” is implemented in the United States (6:30);
  • – Getting involved in Employment First advocacy (9:45)
  • – Job equity and Competitive Integrated Employment (16:03)
  • – Colorado Disability Benefits 101 (23:00)
  • Acronyms mentioned in this episode: SSI = Supplemental Security Income; SSDI = Social Security Disability Insurance
  • Listen to “TRAININGS: E60: Common Work & Financial Questions” on Spreaker.

Quick Tips about Assets & Finances featuring Megan Brand, Executive Director of Colorado Fund for People with Disabilities (CFPD)

  • – Asset limits for families and individuals (3:46)
  • – Assets that count towards the limit (5:09)
  • – Assets that don’t count towards the limit (17:01)
  • – Consequences of going over the Asset Limit (9:50)
  • – Differences between SSI, Retirement Social Security, SSDI, and SSDI Child Benefit (12:10)
  • – Who is involved in managing an individual’s assets and Representative Payee (18:03)
  • – Charging room & board when a child with a disability turns 18 years old (21:10)
  • – Tips and tricks on money management, investments, and financial literacy (24:32)
  • – What trusts are and how they differ from ABLE accounts (27:27)
  • Websites mentioned: Truelink card: www.truelinkfinancial.com CO Medicaid website: https://www.healthfirstcolorado.com/