Myth: I am on SSI and NH Medicaid. I would like to work so I can open an Individual Development Account (IDA) to save money to start my own business but I can’t save more than $2,000.
Fact: An IDA that is funded (at least in part) by federal monies is excluded from the resource limit for both SSI and NH Medicaid.
In addition, the wages and matching funds are excluded as income.
This means the amount you put into your IDA account will not affect your Federal ... Read More