I am pleased to share some good news with regard to the economic impact payments, which are also known as the stimulus payments. As you read the information below, please keep in mind that
anyone who receives SSI or Social Security benefits, including SSDI, and who is a dependent on someone else's tax return
is not eligible
for the economic impact payments.
Families have contacted The Arc of New Jersey recently to ask if Medicaid will allow individuals' bank accounts to exceed $2,000 as a result of receiving the economic stimulus payment. This is the good news response from NJ Medicaid. It is not a problem if the individual's bank account exceeds $2,000 because of the stimulus payment!
"Stimulus payments are
included in countable income and resource calculations when determining eligibility for Medicaid. An individual has an additional 12 months to spend down these funds before they are counted as a resource."
Individuals who receive SSI or Social Security benefits, including SSDI (
and who are not a dependent on someone else's tax return
) will receive the economic stimulus payment automatically. The Social Security Administration made a decision previously that Social Security recipients would receive the stimulus payment automatically; however, the SSA had not decided how to handle these payments to SSI beneficiaries. We are delighted to announce that The Arc of the US led efforts to ensure that payments to SSI beneficiaries will be automatic and will not require filing additional paperwork! Please note: Any SSI recipient with dependent children should still go to IRS.gov to provide information Click here to see the full statement from SSA on the stimulus payments to SSI beneficiaries: