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Thread: get back on disability

  1. #1

    get back on disability

    Hey there not sure if anyone can help but, I have some asset stock 401k and mutual funds and I worry if I ever needed to go back on disability that this would not alow me to and I would end up using all my savings just to live until I got broke enough to go back on disability....can a person put this money in a corperation with my family as the main people to kind of hide it incase something happens to me ie pressure sore shoulder surgery etc...there has got to be people out there that have plenty of money but are still getting disability...how do they do it??

  2. #2
    Disability determination through Social Security is not means tested. In other words, your assets are not considered when a determination of disability is made.

    If you are talking about Medicaid insurance, that is means tested. For Medicaid, there are income and asset limitations and these can vary by state or commonwealth.

  3. #3
    Senior Member skippy13's Avatar
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    It seems that there could be some kind of a trust that you could put the money in. Only thing is that you have to turn control of it over to someone else otherwise it would still be in your name. I think Barondidit has one set up for his settlement money. You need to consult a trust attorney.
    Anything worth doing, is worth doing to excess

  4. #4
    Redroc2. Yes, you can put your assets into a Special Needs trust therefore sheltering your $$ from being used against you when calculating disability need / benefits, etc. Every situation is unique but I've done quite a few to assist those who can benefit. Your first stop is an attorney in your area who can assess your situation and, if applicable, draft the document for you.

    Good luck.

  5. #5
    Senior Member rdf's Avatar
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    It won't impact your SSDI check, but it will most everything else, such as help with schooling from VocRehab, or equipment for school, etc., ramps and lifts, that type of thing. At least I believe this to be true, it's what I've been told by SS when I asked a similar question.

    I'm sure there are many millionaires collecting SSDI.
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    Thanks!

  6. #6
    Senior Member forestranger52's Avatar
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    The only problem I have run into is attendant care. I am only allowed to have $2,000 in assets for PA to pay for my attendants. My cabin and a vehicle (no have) are excluded.
    C 5/6 Comp.
    No Tri's or hand function.

    Far better it is to try mighty things, to win glorious triumphs, even though checkered by failure. Than to take rank with those poor spirits who neither enjoy much or suffer much, because they live in the grey twilight that knows neither victory or defeat.

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  7. #7
    It is important to define what you mean by "disability".

    SSI?
    SSDI?
    State disability insurance?
    Worker's Comp?
    Private disability insurance?

    Also, other programs such as healthcare and PCA services:

    Medicaid
    Medicare
    Federally funded, state or county run attendant care services

    SSI is needs based. If you have too much in assets, you can put this in jeapordy. The same goes for Medicaid. Most state attendant programs require you to be Medicaid eligible.

    SSDI is based on work history and having a permanent disability that precludes you working. If you work, you may put this into jeapordy, regardless of how much you make. Medicare for those under 62 is based on eligiblity for SSDI.

    Private disability insurance has a definition of disability in the policy. IT generally has to do with the inability to work (at a specific job or any job, depending on the policy) and assets rarely are considered at all. The same generally applies to state disability programs if your employer paid into these.

    Special needs trust are structured by the state, so vary from state to state, but generally when you put money into one they are protected from determination of eligibility for SSI or Medicaid, but you may not be able to remove the money in the future except as described in the trust and with permission of the trustee. Some are quite restrictive.

    Most state and federal needs-based programs have a "look back" period (in my state it is two years) for giving money away or transferring it to other family members or friends, and attempts to do so to hide it are considered fraud and can (and are) prosecuted.

    (KLD)

  8. #8
    I just love the idea that I am a productive member of society and have not been on any disability or any help what so ever since 1998, BUT I blow out a shoulder or get a pressure sore i am pretty much SOL...got to love the government system...

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