Learning to live with a disability, or just generally living with a disability, is always a difficult journey, especially when you also have to deal with the diminished income opportunities on top of everything else. This is not to say that individuals with disabilities are not able to maximize their earning potential, but it may take them longer to do so if they do not have access to some sort of financial support while getting themselves established. If you are looking for resources to help with things such as funding, here are some ideas for you to consider.
Medical Insurance Plans
First things first is to see what insurance can provide you. Although a disability will not always impact your overall health, you have to be prepared for situations in which medical treatment could become a priority. You certainly don’t want to face an avalanche of medical bills in an emergency, and this can be prevented with the right healthcare insurance plan that’s tailored to your needs.
There is some serious research that goes into figuring out what will work for you, as the kind of coverage you can get could depend on your living situation, if you’re able to work at all, what your needs are, and what your income looks like. There are insurance companies out there with a focus on disability, such as Guardian, while there are also plans out there for you, such as Plans A and B for Medicare. It’s best to take the time to do some reading alongside consulting different insurance agents to see what they can, or are willing, to offer you.
In the United States, the costs of keeping a roof over your head can be quite high, particularly if you live in a region where the housing market is subject to high demand, speculation, and extraordinary property value appreciation. For people whose disability conditions limit their household income, the Department of Housing and Urban Development offers homeownership vouchers that essentially are grants you can use towards down payments and even monthly mortgage expenses. Rental assistance programs are available at the state level for people who have special housing needs.
Social Security Benefits
Depending on the level of your disability condition and how it affects your life, the benefits you can get from the Social Security Administration may or may not be sufficient to cover personal and household expenses. This is when the best course of action is to retain the services of a social security disability lawyer who can help you get everything you should be entitled to, and this may include Supplemental Security Income on top of the disability payments you already receive. Moreover, if you are working or investing for a living, an attorney can defend your right to continue receiving payments from the SSA.
Since 2014, Americans with disabilities have been allowed to tap into the benefits of Achieving a Better Life Experience (ABLE) savings accounts, which essentially shield income and contributions from taxes up to $16,000 a year. It should be noted that ABLE accounts are for individuals whose disabilities were medically determined before the age of 26.
The financial benefits listed herein are just some of the various support programs available to Americans who live with disabilities. You can also check with groups such as the National Organization on Disability for even more benefits.
Kara Masterson is a freelance writer from Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max.