Your Child Can Save More

As your child makes more money, he or she can start saving for bigger goals, like college, a car, or someday buying a home. Building assets will be a key to comfort and security for your child’s entire life.

SSI and Medicaid Rules Help People Who Work and Save

Supplemental Security Income (SSI) and SSI-linked Medicaid have $2,000 resource limits. However, your child can save way more money than this if he or she gets a job.

SSI resource rules for people who work:

• Not all resources are counted, so your child can own a car or get certain types of financial aid for school that won’t be counted against the resource limit.
• ABLE accounts let you and your child put money into a special account where the first $100,000 will not count against the resource limit.
• Savings in a Plan to Achieve Self-Support (PASS) are not counted. This is a way for your child to save for specific expenses, like school tuition.
• Assets in certain types of trusts do not count.

Medicaid resource rules for people who work:

• The SSI resource rules also apply to disability-based Medicaid.
• None of the money in an ABLE account is counted against Medicaid resource limits.
• There is no resource limit for PeachCare for Kids (if your child is 18 or under) or Georgia Pathways to Coverage Medicaid (if your child is 18 or older).