myOrangeMoney® Enhancements Help with Special Needs Planning

1 in 5 Americans — an estimated 56.7 million people — will be affected by a special need or disability in their lifetime.* How many of your employees fall into this group?

Through Voya CaresTM, which helps people with special needs and caregivers plan for the future they envision,  Voya continues focusing on making a secure financial future possible for  all Americans.

Voya's myOrangeMoney online interactive educational experience is helping millions of Americans change the way they manage and engage with their retirement plan. Later this month, people with special needs and their caregivers can use the myOrangeMoney experience within the participant website to see if they're truly saving enough for retirement.

To account for the unique circumstances faced by people with special needs and their caregivers when planning for the future, the experience takes into account eligibility for additional benefits through government programs, such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).  In the myOrangeMoney experience, employees will be prompted to consider eligibility for these additional benefits. 

SSI and SSDI are two of the largest income assistance programs. SSI provides income benefits to a person with qualifying special needs or disabilities if they fall below a certain income level, while SSDI offers income benefits for people with special needs or disabilities who have a work history and have contributed to Social Security – but have been unable to work for a minimum of a year.

The new myOrangeMoney experience also provides education on a variety of pertinent topics, including:

  • Special needs planning – Long-term special needs financial planning can be challenging, especially with the complex legal and governmental issues surrounding disability. However, by properly planning, understanding government benefits, and using the right legal instruments, you can help ensure your loved one enjoys the quality of life he or she deserves.
  • Legal and financial support  – Reliable, trustworthy information about special needs planning topics can be hard to find — but Voya Cares provides trusted planning resources for additional support in creating the quality of life your loved one with special needs deserves.
  • Government benefits  – Navigating government benefits for special needs financial planning can be overwhelming – especially with so many different requirements. Even so, these benefits provide valuable resources and can serve as the foundation of your broader special needs financial plan.
  • Special Needs Trusts – One element of a good financial strategy is a special needs trust (SNT). Assets held by the trust are not counted when determining your loved one’s eligibility for current and future government benefits.

Contact your Voya relationship manager to learn more about the myOrangeMoney enhancements and how this experience can help all your employees work toward a more secure financial future.

*U.S. census Bureau. “Americans with Disabilities: 2010

Neither Voya ® nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision. Products and services offered through the Voya ® family of companies.

For Plan Sponsor use only. Not for public distribution.CN0227-40422-0319D