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Bill to Watch: SB 296 ABLE Account Estate Recovery

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If you or someone you love has an Ohio ABLE account, you’ll want to keep an eye on Senate Bill 296 (SB 296). This bill, introduced by Senator Brenner, proposes a significant change to the way Ohio handles ABLE accounts after the account holder’s death. Currently, when a person with an ABLE account passes away, the funds in the account are subject to Medicaid Estate Recovery, which means any money left in the account may go to Medicaid to cover the costs of healthcare services received by the person during their lifetime. This provision has made many families hesitant to open ABLE accounts, fearing that any savings would be lost if the beneficiary dies unexpectedly.


What Would SB 296 Do?

SB 296 seeks to exempt Ohio ABLE account funds from Medicaid Estate Recovery when the account holder dies. If passed, this change would allow families to save for the future without the fear that their funds will be taken by Medicaid upon their loved one’s death.


When and Where is the First Hearing?

The first hearing for SB 296 will be held on Tuesday, November 19, 2024, at 11:00 AM in the South Hearing Room at the Ohio Statehouse. During this session, the sponsor of the bill, Senator Brenner, will introduce the bill to the Medicaid Committee.


How Can You Get Involved?


  1. Monitor the Bill’s Progress: Keep track of the bill as it moves through the legislative process. You can check the Ohio Legislature’s website for updates or sign up for alerts.


  2. Contact the Committee Members: If you support the bill, consider reaching out to the members of the Medicaid Committee to express your support. Sharing your personal experience with ABLE accounts and Medicaid Estate Recovery can help build momentum for the bill.


  3. Look for Future Testimony Opportunities: Future hearings may offer opportunities for public testimony, where you can share your thoughts on the bill. Keep an eye out for announcements about upcoming hearings.


Why Is This Bill Important?

For many families who rely on Ohio ABLE accounts to save for their loved one’s future, SB 296 could be a game-changer. The current rule has kept many from opening ABLE accounts, as the risk of losing the money to Medicaid upon death is a major concern. If passed, this bill would provide peace of mind and encourage more families to take advantage of these accounts, which allow individuals with disabilities to save without jeopardizing their Medicaid eligibility.


Stay tuned and get involved if you can—SB 296 could be an important step forward in making ABLE accounts a more accessible and useful tool for families across Ohio.

 

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