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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 23 Chapter 5 Assets

5.5.1 ABLE Accounts These tax-exempt savings accounts are available to persons with disabilities to use for qualified disability expenses such as education, transportation, housing, medical, dental care, community-based supports services, employment training and assistive technology. The accounts are only available to individuals who have blindness or a disability that occurred before the age of 26, and they are a recipient of Supplemental Security Insurance (SSI) or Social Security Disability Insurance (SSDI). Individuals can have only one ABLE account, but that account can be established in any State.

Funds in these accounts, including those from 3rd party contributions, are excluded.

Any funds taken out of an ABLE account and placed in another account or held by the client continue to be excluded, and they can be kept by the client and maintain exclusion indefinitely. 5.5.2 AGENT ORANGE COMPENSATION All payments from the Agent Orange Settlement fund, or any other fund established pursuant to the settlement, are excluded by federal law. 5.5.3 ANNUITIES SNAP: The annuity must be accessible to an Assistance Group (AG) member. AFDC-Related Medicaid and SSI Medicaid Groups: The amount counted depends upon the status of the annuity and when it was purchased. 5.5.3.A Annuities Purchased Prior to November 1, 2008 SNAP WVW, AFDC-Related SSI Groups No No No SNAP WVW, AFDC-Related SSI Groups Yes* No* Yes* SNAP WVW, AFDC-Related SSI Groups No No No