THE PROVIDER TRUST vs ABLE
The Provider Trust and ABLE accounts are similar services that allow a person disabled by SSI criteria to save money while guaranteeing SSI and Medicaid eligibility.
They are both flexible in what they can pay for, however, there are many differences that make The Provide Trust the best choice for providers and their consumers.
We know the importance you place on choosing services that best support your consumers and community. Check out how things really stack up.
- Not subject to DHS/Medicaid payback
- Trust distributions do not count as income and are not taxable
- No maximum limits for Medicaid or SSI
- Withdrawals can be made for any expense that benefits the person and is not taxable
- No maximum annual contribution
- Age of disability is irrelevant.
- Managed by the provider, supported by Arlington Heritage Group
- Individual accounts can be established by a parent, grandparent, guardian, court or individual
- A fully compliant and transparent business-to-business solution
- Subject to DHS/Medicaid payback
- ABLE distributions do not count as income for Medicaid/SSI, but may still be taxable income
- SSI benefits will be suspended for accounts having $100,000 or more
- Qualifying expenses are tax free, non-qualifying expenses result in regular income tax plus 10% surcharge
- Annual contribution maximum is $18,000
- Must be blind or disabled prior to age 26
- Managed by individual, parent or power of attorney, not the provider
- Can be established by a parent, power of attorney or individual
- Individuals go it alone. Providers do not have easy access to this financial tool