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the funds can be withdrawn and any penalties for early withdrawal. 2615.10.15 SAFETY DEPOSIT BOX The applicant/recipient must present to the worker a signed statement listing all of the contents of a safety deposit box. The contents must then be evaluated in terms of their count ability as a resource.15

2615.10.20 COLLEGE SAVINGS ACCOUNTS Effective 07/01/2017 College Savings Accounts, such as 529 College Savings Plans, are exempt as a resource. Student funds used for educational expenses are not counted as income.16 2615.10.30 ABLE ACCOUNTS ABLE (Achieving a Better Life Experience) accounts are tax-favored savings accounts established on behalf of designated beneficiaries. ABLE accounts are established to provide secure funding for disability-related expenses and are exempt as a resource for Medicaid. As if 01/01/2026, those who were deemed disabled before age 24, are eligible.17 Prior to 01/01/26, the age limit was 26. ABLE accounts are only recoverable under estate recovery at a member’s passing for those that meet the estate recovery criteria outlined in State rule and federal law.18 2615.15.00 RETIREMENT ACCOUNTS The below policy applies to new applications filed on or after 07/26/2024. Retirement accounts as defined in 405 IAC 2-1-1 (13) are financial plans for providing income when employment ends. They may be in the form of Individual Retirement Accounts (IRAs), Keogh Plans, 401K Plans, pensions, annuities, and work-related plans. Some profit-sharing plans may qualify as retirement accounts. Savings accounts, checking accounts and certificates of deposits held at banks or credit unions are not retirement accounts. Except in the three situations listed below, a retirement account is an available resource to an individual if there is an option of withdrawing an amount for any reason, even though the member is not yet eligible for periodic payments. However, a retirement account is NOT considered an available resource if an individual must terminate employment in order to obtain any payment. Exceptions: • Funds held in an Individual Retirement Account or work-related pension plan, including Keogh Plans, by an ineligible spouse are not counted as resources19. Ineligible spouse means someone who lives with you as your husband or wife and is not eligible for SSI benefits.20