Monday, February 21, 2011

ABLE Act

  • a self advocate asks "Can I begin a career and still keep my benefits?"
  • a parent asks "Can my child have birthday/holiday gifts in an account and still keep their benefits?"
If they don't have an expensive special needs trust the answer to those questions is no, but that may not be the answer in the near future. An ABLE (Achieving A Better Life Experience) account will allow a person who receives Medicaid benefits to save on their own without losing the services Medicaid provides. It levels the playing field by providing a tax exempt way to save similar to plans like 401K, 529, Medical savings, and IRAs. Money in an ABLE account can be used for expenses like education, medical, and housing to name a few.

Achieving A Better Life Experience (ABLE) Act

A bill to establish ABLE accounts was introduced in the last session of Congress, but it did not pass despite growing congressional support. It will be reintroduced in this session of the 112th Congress and we expect to see it approved with your help. Please contact your state's congressman and let them know you want their support for the ABLE Act and we will keep you updated with the bill's progression.

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