You are here: Home Government ... PASS Accounts Living With A PASS Plan
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

PASS Accounts

Living With A PASS Plan

« Previous

6/6

You must put the income or assets you are "setting aside," and which therefore won't be counted in determining your Supplemental Security Income (SSI) and Medicaid eligibility, in a separate bank account which Social Security will monitor for both deposits and balance.

If you don't deposit the money in this account, or if you withdraw it prematurely for non-Plan purposes, Social Security, it is likely that Social Security will quickly uncover what you've done. Social Security requires participants to provide details on Plan accounts and to submit data on account balances and activity as a condition of the program.

If you don't follow the rules, your Plan would be canceled immediately. You might be required to pay back money you received from SSI or Medicaid if you had made a disallowed withdrawal or did not deposit disregarded money and spent it instead. The official moral here is that your PASS should reflect a genuine future job goal that you're really saving for.


Please share how this information is useful to you. 0 Comments

 

Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.