From Forbes: (click for full article)
I have been following the Affordable Care Act, as have so many others. People with disabilities have unique problems when it comes to health care. In Florida, if you are receiving Social Security Income (SSI) you qualify for Medicaid. So, people with disabilities have great incentives to maintain their SSI because they can’t risk being without medical coverage. The result, many people with disabilities will only work part-time, at most. They are self-limiting their income in order to continue to receive Medicaid. Is this milking the system? I don’t think so. I think an unintended consequence of this system is work disincentives. This was a consideration when Jim and I formed Opportunity Works.
How will the Affordable Care Act affect this issue? Today, if my son has more than $2,000 in assets, he would not be able to qualify for Social Security Income. The way families deal with this is through Special Needs Trusts, which can have unlimited assets, but there are restrictions on how the money can be spent. And, the State can put liens on the trust, so that when my son passes away, the State can collect the assets to recoup their costs of providing the benefit. This is an issue that is complex and without proper guidance can leave families in quite a bind.