ABLE Act: Next Steps

UPDATE:

On Wednesday, May 6, a hearing before the Delaware Senate Healthy & Social Services Committee will be held on the Delaware ABLE Act. The bill has already passed through the House.

Help get the bill through the Senate by calling and emailing members of the committee. The committee members can be found here.

ORIGINAL POST:

The Achieving a Better Life Experience (ABLE) Act was signed into law by President Obama on December 19, 2014. The Act creates a new savings account for families with people with disabilities. These tax-preferred accounts allow families to save for future disability-related expenses without losing Medicaid and Social Security benefits.

What does that mean for you? As a person with a disability or family member of a person with a disability, there are no actions to be taken quite yet. The Secretary of the Treasury has until June 15, 2015 to issue regulations or guidelines for the new law. Once in place, individuals states will decide how to manage ABLE accounts. We will keep you posted as new information becomes available. In the meantime, check out these great resources for more information on the ABLE Act:

 

Share
Category: Uncategorized

Archived posts

Categories

Connect with Us

Visit Us On FacebookVisit Us On TwitterVisit Us On Linkedin