Clock Ticking On Plan For Disability Savings Accounts
By Michelle Diament
November 18, 2014
Advocates are pushing Congress to act before the end of the year on a bill that would allow people with disabilities to save money without jeopardizing their government benefits.
Key legislators said in September that they reached a deal to move forward on legislation known as the Achieving a Better Life Experience, or ABLE, Act.
Now, advocates are urging the U.S. House of Representatives to schedule a vote on the bill the week after Thanksgiving to allow time for the U.S. Senate to follow suit before Congress adjourns for the year.
“Everything is very, very urgent,” said Sara Weir, vice president of advocacy at the National Down Syndrome Society. “This is the most popular and most bipartisan bill before Congress and we hope that they will act swiftly.”
Under the ABLE Act, people with disabilities would be able to save up to $14,000 annually in special accounts that could be established at any financial institution. Individuals could accrue up to $100,000 in savings without risking eligibility for government benefits like Social Security. And, Medicaid coverage could be retained no matter how much money is deposited.
http://www.disabilityscoop.com/2014/11/18/clock-ticking-savings-accounts/19858/
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