New Jersey issues Guidance on ABLE accounts and Medicaid
Hot off the presses, the State of New Jersey has just released its Med-Com concerning the treatment of ABLE accounts by the New Jersey Medicaid programs. Here it is – Med-Com 19-09 ABLE Act
Up to $305,000 that is held in an ABLE account will be excluded from consideration as a “resource” for purposes of NJ Medicaid programs (the limits is $100,000 for SSI). The accounts can...
New Jersey Now Has Its Own ABLE Program
ABLE accounts are accounts created under Section 529A of the Internal Revenue Code with State counterparts, designed for people who became disabled before the age of 26. Finally, New Jersey has adopted its Plan.
A disabled person or their POA or guardian can use the account for any expenses that are incurred as a result of living with a disability and are intended to improve the disabled...