As I have previously discussed, the Achieving a Better Life Experience (ABLE) Act supported by disability rights groups would change the current limitation that individuals with a disability may not hold assets over $2,000 without losing Medicaid and other government benefits eligibility. The Act passed the House on December 3, and the Senate this past Tuesday. Under the Act, a tax-free savings account for disability-related expenses is allowed up to $100,000.
See Gail Russel Chaddock, ABLE Act: How One Bill Offers Hope on Congress’s Biggest Problems, The Christian Science Monitor, Dec. 17, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
