Disability Inclusive Financial Counseling

This self-paced online course highlights how disability public benefits impact the financial choices and financial decisions individuals with a disability make, and that at times limit their ability, to take full advantage of the financial system. This training will help financial counselors create a more inclusive financial counseling environment by building a better understanding of the complex financial lives people with disabilities live and how to support their journey to financial stability.

We all navigate the same financial system. However, many individuals with a disability face an additional layer of complexity as they make financial decisions and use financial products. Among the factors contributing to that complexity are:

• The lengthy process individuals with disabilities have to navigate with the Social Security Administration (SSA) to prove their disability and the complex rules established in order to maintain disability benefits such as Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).

• Limits to an individual’s ability to build assets and save towards goals.

• The need to receive financial and health supports.

• The planning and preparation needed to move from SSA cash benefits to earned income from working.

• The lack of access to resources and information needed to make informed decisions.

• Family involvement and benefits received by family members.

• Not being in control of their own finances or feeling empowered to do so.

• A disjointed system of service providers.

Goals of this Course

The goal of this course is to equip financial counselors with accurate disability benefits information about Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) and to prepare financial counselors to apply this knowledge during financial counseling sessions with individuals receiving these benefits.

This course helps financial counselors meet the AFC core competencies by providing the education, tools and resources on how to offer financial counseling at the intersection of where public benefits, work incentives and disability-specific financial products (i.e., an Achieving a Better Life Experience Savings Account) impact the financial lives of a person with a disability.

Course Objectives 

By the end of this course, financial counselors will have a better understanding of how to:

• Recognize the prevalence of disability in the United States.

• Describe the economic status of people with disabilities, the intersection of poverty and public benefits and the additional costs associated with living with a disability.

• Explain the myths and realities that hold people back from becoming financially empowered to build wealth and more effectively manage their money.

• Compare the basics of SSI, SSDI, Medicaid and Medicare.

• Describe work incentives that help people on SSI and SSDI start, return, or maintain employment and apply work incentives as part of a strategic financial counseling plan.

• Describe an overpayment from the Social Security Administration and use this information to determine the best approach to assist a client with an overpayment debt.

• Recognize the importance of reporting wages to the Social Security Administration (SSA).

• Describe ABLE accounts and explain how they can benefit clients with a disability ability to meet their savings and investment goals.

By the end of the course financial counselors will also:

• Have opportunities to apply the knowledge gained through examples and the analysis of case scenarios.

• Determine possible sources of financial challenges for individuals with disabilities and address cash flow concerns.

• Develop a plan of action and propose next steps for the client to address these challenges.

• Review tips and resources financial counselors can incorporate in financial counseling sessions.