The webinar is planned for March 29 http://www.ablenrc.org/events/webinar-able-accounts-trusts-financial-and-benefits-planning
On 3/22/16, Jim Lubin <[email protected]> wrote: > Check out this article from Disability Scoop: > https://www.disabilityscoop.com/2016/03/22/congress-tweaks-able-accounts/22074/ > > Federal lawmakers are already looking to expand the eligibility and > capabilities of a new type of savings account for people with disabilities. > > A package of three bills introduced this month in Congress would offer > extra flexibility to individuals with disabilities using accounts created > under the Achieving a Better Life Experience, or ABLE, Act. > > The savings vehicle established under federal law in 2014 will for the > first time allow those with disabilities to save up to $100,000 without > jeopardizing Social Security and other government benefits. Medicaid > eligibility will not be affected by any level of funds accrued in the > accounts. > > Advertisement - Continue Reading Below > > Currently, states are working to establish regulations and implement the > new offering and ABLE accounts are expected to start becoming available > sometime this year. > > Even before the first accounts are opened, however, the bipartisan group of > lawmakers responsible for the ABLE Act is working to tweak the new program. > > Under the latest proposals, people with disabilities who are employed would > be able to allocate extra money each year to their ABLE account. Beyond the > existing annual cap of $14,000, those who are working could also deposit > their earnings up to the federal poverty level – currently $11,770 for a > single person. > > In addition, eligibility for the accounts would be expanded to include > people with disabilities that onset by the age of 46, an increase over the > current requirement that conditions must exist prior to age 26. > > Finally, the lawmakers want to allow families to be able to rollover money > they’ve saved for an individual with a disability in a 529 college savings > plan to an ABLE account. > > “The ABLE Act broke through the glass ceiling for thousands of individuals > with disabilities by giving them the ability to plan and save for their > futures,” said U.S. Rep. Pete Sessions, R-Texas, a sponsor of the bills. > “While the ABLE Act was a critical first step, today’s package will bolster > our efforts and strengthen the law to ensure individuals with disabilities, > like my son, Alex, have the opportunities they need and deserve to achieve > a bigger, brighter future.” > > The bills known as the The ABLE to Work Act, The ABLE Financial Planning > Act and The ABLE Age Adjustment Act are sponsored by U.S. Sen. Richard > Burr, R-N.C., and Sen. Bob Casey, D-Pa., in the Senate and Rep. Ander > Crenshaw, R-Fla., Rep. Chris Van Hollen, D-Md., and Rep. Cathy McMorris > Rodgers, R-Wash., in addition to Sessions in the House of Representatives. >
