Maintain Benefits

Maintain your current benefits.

You don’t have to be receiving public benefits to own an IAble account, but if you are receiving or plan to apply for public benefits, your IAble account can protect you from asset caps.

• IAble accounts up to $100,000 are not considered in determining eligibility for Supplemental Security Income (SSI).¹ It’s important to note housing expenses withdrawn from your IAble account must be spent within the same month you make the withdrawal or your SSI benefits may be affected.

• Any amount saved in an IAble account is not counted in determining eligibility for other federal needs-based benefits. This includes such benefits as:

  • Any Medicaid programs

  • Supplemental Nutrition Assistance Programs (SNAP)

  • Housing and Urban Development (HUD)

  • Free Application for Federal Student Aid (FAFSA)

  • Veterans benefits, including the income-limited Veterans Pension

  • Social Security Disability insurance (SSDI)

  • Medicare Parts A, B, C or D and other Medicare programs

Medicaid Recapture

The Iowa Department of Health and Human Services (the Iowa Medicaid agency) is not permitted to recover moneys in an IAble account upon the death of the account owner, unless such a claim is required by federal law in certain, limited situations (HF835). Medicaid can file such a claim against the account only if the account owner was 55 or older, and the payment of the claim may be postponed if it can be shown that the account owner is survived by:

• A spouse
• A child under the age of 21
• A child with blindness or disabilities

Check with your public benefits specialist about your specific circumstances.

To learn more about what happens when an account owner dies, view our IAble Death of Account Owner (PDF) handout.

IAble Death of Account Owner (PDF)

¹Please see the Plan Disclosure Booklet for complete details on SSI suspension and any requirements on when you use the funds, to prevent suspension of benefits.