Maine Revised Statutes Title 5 Sec. 156 – Authorization to establish program; payments for MaineCare benefits prohibited
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 5 Sec. 156
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
The Treasurer of State is authorized to establish in this State the ABLE ME Savings Program, referred to in this section as “the program,” to allow an individual with a disability to establish a federal tax-advantaged savings account and use the funds in that account to pay for the individual’s care. The program must comply with the requirements of the federal Achieving a Better Life Experience Act of 2014, Public Law 113-295. [PL 2017, c. 394, §1 (NEW).]
Unless otherwise required by the United States Social Security Act, 42 United States Code § 1396p(b), the State, or any agency or instrumentality of the State, may not seek payment for MaineCare benefits provided to a designated beneficiary from an account, or its proceeds, that is established under a qualified ABLE program that complies with the requirements of the federal Achieving a Better Life Experience Act of 2014, Public Law 113-295. [PL 2019, c. 348, §1 (NEW).]
Funds held in an account established under a qualified ABLE program that complies with the requirements of the federal Achieving a Better Life Experience Act of 2014, Public Law 113?295 or distributed for the purposes of paying qualified expenses must be disregarded when determining the designated beneficiary’s eligibility for any means?tested public assistance program. [PL 2019, c. 348, §1 (NEW).]
The Treasurer of State may adopt routine technical rules pursuant to chapter 375, subchapter 2?A to implement the provisions of this section, including all terms and conditions of the program. [PL 2017, c. 394, §1 (NEW).]
SECTION HISTORY
PL 2017, c. 394, §1 (NEW). PL 2019, c. 348, §1 (AMD).