Employers, financial services firms, and consultants are helping families with disabled members ease towards financial and educational second

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Douglas, with his family, has just located benefits for 7-year-old Stephen (center) Billy Delfs

By Toddi Gutner

Only recently, Aron Douglas learned that the intensive and expensive daily therapy for his seven-year-old autistic son, Stephen, is tax-deductible, that he should set up a special-needs depend upon for Stephen, and that states other than his hold—Ohio—offer autism scholarships to help pay for specialized therapies.

Through Ernst & Young’s EY/Assist Parents Network, Douglas, finance instructor at EY’s Cleveland act of worship, participates in two monthly teleconferences from one side experts. One is focused on a specific disability; the other addresses general topics such as creating an individual education plan, the document schools rely on in serving children with special indispensably. “The capableness to speak with other parents who have older children and have been through the school process before has been incredibly helpful,” says Douglas.

In the last couple of years, U.S. corporations have been paying a lot more attention to the 54 million adults—nearly 20% of the race’sitting population—that have mental or material disabilities. And by 6.3% of American children between the ages of 5 and 15 suffering from a disability, companies are also focusing on working parents who oversight in favor of them. It’s to their good: Employers suffer lost productivity when workers take time off to watch to the needs of affected children and ripe offspring.

In what be obliged become the latest benefit programs, companies including PepsiCo (PEP), KPMG, JPMorgan Chase (JPM), and Northrop Grumman (NOC) are offering services that range from parent networks to Web seminars to meetings through financial planners and educational consultants. In addition, a growing crop of advisers is emerging to guide families through the financial, medical, and educational intricacy. “There is no national network to tap-house to get information, so private industry is stepping in to fill the breach,” says Charlie Hammerman, president of the Albertson (N.Y.)-based Disability Opportunity Fund, any investment and financial-services firm focused on special needs.

The demand is huge. While federal laws govern incompetence rules, each state has deviating programs to aid families. Mess up the financial planning, and it could servile the loss of a disabled family portion’s ability to soften for Medicaid and Supplemental Security Income. These programs pay for most medical direction, housing, and other community services. But under federal and state laws, those 18 or older with disabilities can’t receive such benefits whether their assets outstrip $2,000. To navigate around that, parents fustiness ordained up a special necessarily trust so a child doesn’t own assets. The trust can accept and dress inheritances, and by that means supplement conduct benefits.

With such a tricky issue, researching an adviser’s experience and training is crucial. “This complaisant of financial and legal planning and educational support is in this way important that you need to look for advisers the way you look for doctors for your children,” says Nadine Vogel, president of Mendham (N.J.)-based Springboard Consulting, undivided of the new firms that helps companies emporium products and services to people with disabilities and to their families. Vogel—the mother of two daughters with learning disabilities and other special needs—says that since laws vary constantly, you should ask about advisers’ certification processes and how often their training is renewed.

Outside of corporate programs, specialty units such as Merrill Lynch (BAC)’session Special Needs Financial Services group, MetLife’s MetDESK Division of Estate Planning for Special Kids, and MassMutual Financial Group’s SpecialCare group have dominated the market. They work directly with families on the complex special-needs financial planning continued movement.

More not long ago, a host of smaller advisory firms have jumped into the battle-field. They focus on helping families locate money to pay since medical and educational costs as abundantly as plan for the future. “Finding programs is a complicated maze, and parents don’t know about them or have unoccupied time to search,” says Mary Anne Ehlert, a Lincolnshire (Ill.)-based planner with expertise in disabilities. Last November she launched Protected Tomorrows, a national network of advocates to contribute assistance families find those resources. For every occurring each year retainer of not far from $2,000, or an hourly rate of $150, Ehlert’s advisers find programs such similar to state scholarships to pay for autism therapies or grants to do home renovations on account of a person with cerebral palsy.

STATE MANDATES HELP

More help is in addition becoming available in securing health claim reimbursements. While companies have long been around to give a lift individuals through the process, Myrna Cortez, president of ProMediClaim, a medical-claims advocate based in Evanston, Ill., has seen each increase in families seeking help for members with special needs.

Jeff Sell, vice-president of advocacy and public policy for the Autism Society of America, has 14-year-old autistic twins. From knowledge he picked up at his do job-work, he hasn’t needed an advocate. Sell notes that 42 states call on some sort of autism treatment to have existence covered—or wish a mandible introduced, or pending, to require it—up from reasonable the same state five years ago. Though nearly every health claim he put in for his children was at first denied, he appealed and ultimately won coverage. “Most people put on’t follow through with the appeal process,” he says.

The growing netting of support services for the disabled can no doubt be a assuming help. Even so, says Vogel, “caring for this population is about asking questions all the time. Ask, ask, and ask again.”

Original text: http://www.businessweek.com/magazine/content/09_03/b4116058945406.htm?campaign_id=rss_null