How the Florida Freedom Initiative Works

Information about Individual Development Accounts (IDA's)

The Florida Freedom Initiative (FFI) promises to provide a way for eligible persons with developmental disabilities to build assets and break the poverty cycle. FFI eligible persons are those who are currently enrolled in the Agency for Persons with Disabilities' Consumer Directed Care Plus program, receive SSI; work; want to work, or earn more; or want to own a micro enterprise. (Modest business)

The FFI is open to all CDC+ consumers and CDC+ control group members who receive Social Security and wish to work or own a small business. A new FFI enrollee will retain all the benefits exercised under CDC+ and also be able to:

The Florida Freedom Initiative is a cutting edge demonstration program designed to determine the effect of removing real and perceived barriers for persons with disabilities who want to earn more money and becomes more self sufficient, but depend on Medicaid and Social Security benefits. The FFI participants are able to protect the first $280 of earned income and half of anything over $280 from being counted as an asset in the determination of SSI and Medicaid benefits. Currently, SSI recipients can only exempt the first $65 of earned income and half of everything earned over the $65.

An interest bearing Freedom Savings Account can be established to save toward specific approved targeted goals. The Freedom accounts can generate up to an $8 match for every dollar saved by the account holder to a maximum total of $10,000 per year. The Freedom accounts may be used to purchase a home, transportation, additional education, or a small business. The FFI participant not only benefits from the ability to create real assets, they also have the opportunity to establish a credit history with a financial institution.

The person who can own their home produces a major savings as compared to the person who requires housing that is publicly funded. The satisfaction with the home and quality of living is enhanced at a considerable savings to the tax payer. The person who can control their transportation saves public dollars expended on expensive and seldom reliable transportation systems that often poorly serve persons with disability. The benefits to expanded educational opportunities are obvious.

At a time when Medicaid and Social Security dollars are stressed and the demand is growing for services, it is imperative that new ways are found to encourage self-determination and independence while lessening the public cost. The Florida Freedom Initiative holds that promise! In order to make the promise reality, it is critical that a partnership is forged with a strong and civic minded financial institution that understands the potential in a growing and untapped market.