ABLE Act Update

NDSC continues to be active in the effort to implement and expand the Achieving a Better Life Experience (ABLE) Act of 2014, which enables people with Down syndrome and other disabilities to open tax-exempt accounts to save for their future without jeopardizing their much-needed public benefits. To date, there are forty-two ABLE programs around the country (41 states plus the District of Columbia). Many of these programs are open to qualified individuals nationwide and offer additional benefits like state income tax deductions. Please see the ABLE National Resource Center (ANRC) for information concerning ABLE, at ANRC offers a wealth of information about ABLE accounts and free monthly webinars on various ABLE-related topics. ANRC’s February webinar, “Strategies for Funding an ABLE Account”, will be presented on February 28, 2:00 p.m. ET. Click HERE to register.

Last Congress, NDSC joined with many other disability organizations to advocate for the passage of the ABLE Age Adjustment Act to increase the eligibility threshold for ABLE accounts for the onset of disability from before age 26 to before age 46. This increase would result in six million additional individuals with disabilities becoming eligible to open an ABLE account, which is an important savings tool to empower individuals with disabilities to achieve and maintain health, independence, and quality of life. This age increase would also enhance the sustainability of some ABLE programs nationwide. Although this bill did not get over the finish line last Congress, it will be reintroduced again shortly. We will keep you informed about details and send out an Action Alert for support.