Tools for Financial Empowerment
written by Ben Trockman
As a person with a disability who relies on Medicaid to cover the cost of many of my healthcare needs, I understand how scary it can be to enter the workforce with even one hint of a possibility of losing Medicaid eligibility. Lucky for me, and many other Hoosiers with disabilities, there are options to safely enter the workforce without losing those vital medical coverages.
“Lucky for me, and many other Hoosiers with disabilities, there are options to safely enter the workforce without losing those vital medical coverages.”
You may have been told that you can only make a certain amount of money each month without jeopardizing your eligibility for Medicaid. While your income per month is limited, there is a Medicaid buy-in program called MED Works in Indiana, where you can pay a small premium each month, which allows you to increase your monthly income from what you have likely been told is your current monthly limit. The MED monthly premium is an excellent investment to provide flexibility for your hours at work, and the amount of income you can receive each month!
Okay, so now you are enrolled in MED Works, and making a little bit more money each month – that’s awesome! But, where and how do you safely save and accumulate your funds for the future? Yes, as someone on Medicaid, I understand having extra money in your bank account is nerve-racking! Have you heard of ABLE Accounts? Well then, you are in luck! INvestABLE helps individuals save while preserving their SSI and Medicaid. With an INvestABLE account can save up to $100,000 ($15,000 per year) without jeopardizing your SSI resource limit or Medicaid eligibility!
When you obtain a job for the first time, or if you are reentering the workforce after you sustained a disability, you can often feel like there is a lack of resources or tools to allow you to be more independent and empowered. And, while the MED Works program and INvestABLE are not the entire solution – they are excellent tools you can utilize to become more financially independent.
In Conclusion
Don’t be dissuaded from pursuing a career for fear of losing your benefits. Do some research on MED Works and ABLE Accounts. If you have additional questions, ask your vocational rehab counselor, or contact an employment services professional at a local disability not-for-profit. You can even contact me via email, and we can discuss your current employment situation and desires for the future!
If you build your awareness of the available resources and do your due diligence, you will be more empowered to live the life you deserve!
About the writer
A graduate of the University of Southern Indiana, Trockman joined Old National Bank in 2014 and serves in the role of Diversity and Inclusion Outreach Specialist. Ben has been challenged to assist ONB to become a leader in disability employment and inclusion through education and awareness while working to enhance recruiting efforts and rethinking the hiring processes to successfully recruit, onboard, and employ people with disabilities.
In November 2019, Ben was elected to his first role in community government as the City of Evansville’s First Ward City Councilman.
In 2015, Trockman was presented with the “Spirit of Ability Award” by BraunAbility in recognition of his efforts at Old National. In July 2016, Ben was presented with the “Individual Achievement Award” by Leadership Evansville. In September 2017, Ben was nominated by the Evansville Business Journal as a “20 under 40.” And, most recently, Ben was presented with the “Workforce Diversity Award” by the City of Evansville’s Mayor Lloyd Winnecke.
Ben currently serves on the Special Olympics Indiana Board of Directors, the Alumni Council of the University of Southern Indiana, the Indiana ABLE Authority board, and has been a passionate supporter of Habitat for Humanity of Evansville.
Ben Trockman, D & I Outreach Specialist, Old National Bank