Independence accounts. (FE)

What it does

Summary by the Legislative Reference Bureau, the Legislature's nonpartisan drafting office. It's their wording, not ours.

This bill requires the Department of Health Services to allow an individual to deposit up to $15,000 of the individual’s gross earnings in an independence account over a 12-month period. Further, the bill prohibits DHS from including assets acquired by an individual by inheritance when determining the individual’s financial eligibility for Medical Assistance benefits under the Medical Assistance purchase plan.

Under current law, an independence account is an account approved by DHS that consists solely of savings, dividends, other gains derived from those savings, and income earned from paid employment after the date on which the individual began receiving Medical Assistance benefits under the Medical Assistance purchase plan. The Medical Assistance purchase plan is a subprogram of the Medical Assistance program that allows individuals who have a qualifying disability and who are working or who want to work to remain eligible for Medical Assistance benefits. To be eligible for benefits under the Medical Assistance purchase plan, among other things, an individual’s assets must not exceed $15,000, but assets accumulated in an independence account are excluded from the calculation. The Medical Assistance program is a joint state and federal program that provides health services to individuals who have limited financial resources.

Who's behind it

9 representatives are its authors⁠. 8 are Republicans and 1 is a Democrat.

9 more lawmakers signed on in support⁠.

What it would cost

State agencies filed a cost estimate. Each opens as a PDF from the Legislature.

• Fiscal Estimate From DHS

Versions and amendments

Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.

• Amendment Histories
• LC Amendment Memo