A tax free savings account will be granted to people with disability. This is the result of the Act signed on December of 2014 by President Obama. The act was known to be the Achieving a Better Life Experience (ABLE).
The recipients of this ABLE fund are as follows: People who have expenses with their medical condition before they turn 26 years old. The funds can be used for the purpose of education expense. It can also be used towards, housing, transportation, and especially healthcare.
According to the reports coming from the Disability Scoop. This privilege will be offered to several states in the country for those who have been affected by disability. It will be granted to the recipients as early as this summer.
The Mighty reported that, the first state to announce their launching for the said ABLE program is Nebraska. They will begin to offer on June 30, but there are also news reports that Ohio will be launching before Nebraska would.
Modeled after the 529 college plans, this program will allow people with disabilities to be able to save an amount that could reach up to $100,000 without having to worry about the endangerment of their Social Security and other benefits. They will also be able to keep their Medicaid cards.
This just goes to show that the government cares for those that are in need of their assistance, especially the disabled community as this act has been a law since 2014. It will surely bless the lives of many American who will benefit from the program the government has offered.
This is a very exciting time for the disabled community. The National Down Syndrome Society, Sara Hart Weir said of the program, "It's exciting that after working on this legislation for 10 years that individuals with Down syndrome and other disabilities will be able to open accounts as soon as next month."
