The United States Congress may soon consider the ABLE Age Adjustment Act. The ABLE Age Adjustment Act will expand the number of individuals with disabilities eligible to open ABLE accounts. Under the current law, only individuals with an age onset of disability prior to turning 26 are eligible. This bill would increase the age limit up to 46 years of age, providing any individual whose disability onset began prior to turning 46 the opportunity to open an ABLE account. This important change will not only expand access for individuals with disabilities but improve the long-term viability of ABLE programs by increasing the number of active accounts.
ABLE accounts allow individuals to open savings accounts for their disability expenses, without the risk of losing disability benefits such as Supplemental Security Income (SSI) and Medicaid. Individuals are eligible for ABLE accounts in 43 states and the District of Columbia and can save up to $15,000 per year ($100,000 total) without losing SSI benefits. The savings can be used for disability-related expenses, including home modifications, education, transportation, and assistive technology.
Please urge the House and Senate to pass the ABLE Age Adjustment Act now!