From the Huffington Post by William Daroff. He is the Vice President for Public Policy and Director of the Washington office of the Jewish Federations of North America.
The ABLE Act Promoting Inclusion and Independence
The financial strain on individuals with disabilities and their
families today is not just a matter of dollars and cents; it's a matter
of planning for tomorrow and the long-term future to ensure their
independence and inclusion in their community.
Parents of children with disabilities want their kids to be able to
access higher education, build a meaningful career, and save for the
future so that they can live independently in their community of choice.
Unfortunately, with essential government benefits at risk when an
individual with a disability accumulates significant assets, long-term
financial planning for services and supports that enable independent and
community-based living is often not feasible.
To help remedy this situation so many families face, the Achieving a
Better Life Experience (ABLE) Act (H.R. 647/S. 313) was introduced with
bipartisan support in both the House of Representatives and Senate
earlier this year. This bill would provide a tax-advantaged savings
account of up to $100,000 for disability-related expenses to supplement
the benefits received from sources such as private insurance, Medicaid
and the Supplemental Security Income program.
Qualified expenses that an ABLE account would fund include education,
housing, transportation, employment support, health prevention and
wellness, assistive technology and personal support. In short, it would
allow families to plan for their child with disabilities to have access
to funds to pay rent, hire a tutor or get job-related training in the
Read the rest HERE.