A.B.L.E.

Disabled Savings

LATEST UPDATE [Nov 2014]

THIS LEGISLATION
 has been passed by the House and Senate and
SIGNED BY THE PRESIDENT

Original article:  If any of your children with disabilities have … or might be expected to have in the future … the capacity and desire to work at a job in the community, this article is important for you to read.

The right to save money and take care of yourself as you grow older sounds like an all-American ideal.  But current government calculations penalize someone receiving SSI and Medicaid when they earn more than a certain amount a month — or save more than a certain amount. The ABLE Act has been spearheaded by Sara Wolf, a 31 year old young woman who, as she puts it, “happens to have Down Syndrome”.  It has a good chance of passing Congress.

“Being able to earn more money and build savings without the threat of losing benefits would provide many more people with an incentive to work, says Sara Weir, a vice president at the National Down Syndrome Society, a leading supporter of the ABLE Act.”

“That safety net is so important — it’s so important to be able to remain on benefits but still be able to work,” said Weir. “[If the ABLE Act is passed], disabled Americans wouldn’t have to be afraid of taking a full-time job or promotion, because they can take their paycheck and deposit it into an ABLE account without worries of losing benefits.”

Read the CNN Money article here (disregard unrelated links throughout the story). 

Be sure to follow THIS LINK to get a fuller understanding of how the bill will work.
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