Congress Passes ABLE Act
Bill Promotes Economic Self-Sufficiency for People with Disabilities
Currently, individuals with disabilities who depend on federal health or income benefits (such as Medicaid or SSI) are not permitted to have more than $2,000 in cash savings or assets, which essentially, forces individuals to remain poor and unable to save money for emergencies or investments in the future. Much like existing “529” college savings plans, the ABLE Act will allow individuals and families of children with disabilities to save money for many disability related expenses such as education, transportation, or employment without jeopardizing important health or income supports.
10 Things to Know about the Act
Republican sponsors explain what’s in the Act in short videos
Association of University Centers on Disabilities (AUCD) Press Release