Government managed savings Benefit Analysis and Planning

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Slide 1

Standardized savings Benefit Analysis and Planning What, Why, When and Where? Emily Hart, Pierce County Benefit Specialist

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What Is Social Security Benefit Analysis and Planning? Giving instruction about Social Security benefits Gathering data Reviewing an individual's advantage profile Illustrating potential choices (i.e. Work Incentive Programs) Identifying/helping with issue circumstances (i.e. excessive charges) Developing bolster arranges (short and long haul)

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Why Is Benefit Analysis and Planning Important? Builds general information Assists with get ready for changes in advantages Prevent, recognize as well as reduce issue circumstances Correct underpayments Prevent the loss of other bolster projects or advantages (i.e. nourishment stamps, HUD/Section 8)

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Why Is Benefit Analysis and Planning Important? Scatters myths, for example, "I can't go to work in light of the fact that on the off chance that I do, I will lose my Medicaid!" Or "For each dollar I procure Social Security will take a dollar from my money installment."

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Let's Dispel the Medicaid Myth Now! Segment 1619(b) on the Social Security enactment accommodates proceeded with Medicaid qualification for people whose salaries are too high to fit the bill for SSI money installments, however not sufficiently high to counterbalance the loss of Medicaid. Basically, this implies on the off chance that somebody has drawn a SSI money advantage and loses their qualification for their money advantage because of wages, they can keep on receiving free Medicaid up to the yearly salary edge for 2005 of $22,630.00.

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Why Not the Dollar for Dollar Reduction Myth, Too? On the off chance that an individual goes to work and is getting SSI, their money installment is decreased in view of an equation. Here's a reasonable illustration: $500.00 wages $579.00 (Federal Benefit Rate) - $85.00 avoidances - $207.50 $415.00 $371.50 (SSI money installment) ÷ 2 $207.50 $500 + $371.50 = 871.50

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When Is a Benefit Analysis Appropriate? Truly, ANYTIME! Particularly when: An individual gets less then $579.00 in SSI An individual has a broad, paid work history An individual has a parent that is resigned, debilitated or perished An individual is not getting Social Security or Medicaid as a result of wages or different conditions

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When Is a Benefit Analysis Appropriate? At the point when: An individual is working or needs to work An individual is drawing nearer an edge sum Here are some short portrayals of Social Security Work Incentives that can be utilized to individuals go to work or remain under limit

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Plan for Achieving Self-Support (PASS) A PASS permits a man with an incapacity to set aside wage as well as assets for a particular timeframe to pay for costs connected with a professional/work objective. Having a PASS may help a person in fitting the bill for or expanding their SSI installment.

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Impairment Related Work Expense (IRWE) An Impairment Related Work Expense (IRWE) is a cost that a man pays for out of pocket that is DIRECTLY identified with their handicap AND to their work.

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Subsidy An endowment is the bolster an individual gets at work. A sponsorship demonstrates the wages an individual gets from their occupation might be all the more then their genuine income. Sponsorship is utilized for deciding SGA, which is just connected with Title II benefits.

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What Could Be Considered a Subsidy? A Carved Job – extraordinary obligations, uncommon hours Natural backings – bolster gave by colleagues, peers, business, and so forth… Extra breaks Reduced efficiency Job honing – month to month hours of training X the individual's time-based compensation

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Where Can Someone Receive Benefit Analysis and Planning Services? Puncture County Human Services, Developmental Disabilities offers free advantage investigation and arranging administrations for: Individuals qualified for administrations with the Division of Developmental Disabilities (DDD), incorporating understudies experiencing significant change administrations with any Pierce County school region.

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Contact Information Emily Hart Pierce County Developmental Disabilities, Benefit Specialist 253-798-4563 Do not falter to call for more data!