Best Financial Advisors in Gresham, OR

The Coronavirus Aid Relief and Economic Security Act, also known as the CARES Act, has resulted in most individuals receiving a one-time Economic Impact payment from the IRS to help them stay afloat during these difficult times while simultaneously providing a boost to the national economy. People with disabilities and elderly people who receive SSI and Medicaid benefits are among those who have received the stimulus checks. Although the stimulus checks have been a welcome relief to most individuals, SSI recipients and Medicaid long-term care beneficiaries may be concerned that their stimulus checks will disqualify them from these programs, by pushing them over the income and asset eligibility limits. Representative payees and others who manage the funds of SSI recipients and Medicaid beneficiaries may be uncertain about the effect of the stimulus payments on the people whose funds they manage. And spouses of people who receive Medicaid long-term services may worry that their own stimulus checks will jeopardize their spouse’s Medicaid eligibility. Fortunately, the COVID-19 Economic Impact stimulus checks should not disqualify SSI recipients or Medicaid beneficiaries. Here’s why:...