ABLE ACT

If you have a disability, or you know someone who does, take a moment to learn about the “Achieving a Better Life Experience” Act. It’s also known as the ABLE Act of 2014. The aim of this bill is to ease the financial strain of many individuals with disabilities by allowing for tax-free savings accounts to cover qualified expenses such as education, housing, and transportation. Why is this so important? Well, millions of people with disabilities depend on a wide variety of public benefits, but often in order to remain eligible for programs like Medicaid or Social Security, a disabled person is not allowed to have too much in savings. But with the extra cost of living with a disability, it’s important to be able to save money without being penalized for it — and that’s what the ABLE Act is all about: saving money when you have a disability. Learn more about the ABLE Act – it could be a real benefit to someone you know!