I'm Single , approaching 59 1/2yrs , receiving SSI Disability & state Medicaid. Must I withdraw funds from my Retirement account ? It's under $50k., & Is Medicaid a factor for me in the Requirement ?? I have no depends , became Disabled at 55 yrs old. Thank you

Hi. You say that you're receiving SSI Disability, but I'm not sure if by that you mean Supplemental Security Income (SSI) or Social Security disability (SSDI) benefits. Supplemental Security Income is a needs based program administered by Social Security, and you can't qualify for SSI if you have more than $2,000 in countable resources. Therefore, if you have more than $2,000 in an IRA or similar account, then you probably shouldn't be receiving SSI.

However, there is no resource limit for SSDI benefits, so if that's what your receiving then it doesn't matter how much you have in your retirement account. Nor would you be under any obligation to withdraw money from your retirement account as far as Social Security is concerned. The IRS has rules governing withdrawals from certain types of retirement accounts, but my expertise is limited to Social Security so I can't give you any advice regarding IRS regulations or Medicaid.

If you're receiving SSDI benefits, then you should be eligible for Medicare starting with your 25th month of entitlement to SSDI benefits. If you aren't receiving SSDI benefits but if you have at least 40 quarters (QC) of Social Security coverage, then you could qualify for Social Security retirement benefits as early as age 62, and for Medicare at age 65.

Best, Jerry