When your child or loved one has an intellectual or developmental disability, you spend a lot of time worrying about the future. That is why I was very grateful that Congress passed and the President recently signed the Achieving a Better Life Experience Act also known as the ABLE Act. This legislation will allow individuals and families to save for long-term needs without jeopardizing an individual’s eligibility for critical federal entitlement programs like Medicaid. ABLE accounts will be set up similarly to 529 accounts that many families use to save for a child’s college education. The tax-advantaged savings accounts made possible by the ABLE Act can be used to pay toward a variety of needs including transportation, housing, employment support and assistive technology.
This post was imported from a legacy archive. Please excuse any formatting inconsistencies.