The Achieving a Better Life Experience (ABLE) Act is scheduled to be voted on in the House this week and in the Senate before the session Adjourns. Please call our representatives NOW and encourage them to vote for it. It will enable people with disabilities and their families to save money without losing Social Security and, more importantly, Medicaid benefits. GovTrack’s Bill Summary The Achieving a Better Life Experience (ABLE) Act would ease the financial burden for individuals with disabilities by creating tax-free accounts that can be used to save for disability-related expenses. These accounts can be created by individuals to support themselves or by families to support their dependents. The ABLE act was introduced by Ander Crenshaw [R-FL4] in the House and by Robert Casey [D-PA] in the Senate. Together, the two bills have over 400 cosponsors. The bill would create tax-exempt, state based private savings accounts to fund disability-related expenses to supplement benefits currently provided by Social Security, Medicaid, employers, and private insurance. The account shall be treated in the same way as a qualified tuition program, such as a 529. A 529 account allows families to save money for an individual’s education without being disqualified for certain aid programs and prevents tax penalties on the money saved and any income earned from it. Expenses would qualify as disability-related if they are for the benefit of an individual with a disability and are related to the disability. They include education; housing; transportation; employment support; health, prevention, and wellness costs; assistive technology and personal support services; and other expenses. ABLE accounts will have no impact on Medicaid eligibility. Those receiving Supplemental Security Income (SSI) from Social Security shall have those payments suspended while maintaining excess resources in an ABLE account. Sen. Harry Reid 522 Hart Senate Office Building Washington , DC 20510 Phone: 202-224-3542 Toll Free for Nevadans: 1-866-SEN-REID Sen. Dean Heller 324 Hart Senate Office Building Washington, DC 20510 Phone: 202-224-6244 Congressman Mark Amodei 222 Cannon House Office Building Washington, DC 20515 Phone: (202) 225-6155 Congresswoman Dina Titus 522 Hart Senate Office Building Washington , DC 20510 Phone: 202-224-3542 Toll Free for Nevadans: 1-866-SEN-REID Congressman Joe Heck 132 Cannon HOB Washington, DC 20515 Phone: (202) 225-3252 Congressman Steven Horsford 1330 Longworth House Office Building Washington, DC 20515 Phone: 202-225-9894 =
Posted on: Mon, 01 Dec 2014 21:36:05 +0000
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