Navigation Links
ABLE Act Proposes a Better Economic Future for Californians with Disabilities

SACRAMENTO, Calif., March 23, 2015 /PRNewswire/ -- For the first time, many Californians with disabilities may be allowed to save more than $2,000 without losing their eligibility for Medicaid, Supplemental Security Income (SSI) and other public benefits. If legislated in California, the federal Achieving a Better Life Experience (ABLE) Act, enacted in December 2014, will allow individuals whose disabilities occurred before age 26 to open one tax-exempt ABLE savings account to spend on qualified disability expenses. The ABLE Act supports the independence of people with disabilities in pursuing an education, buying a car or house, paying for assistive technology and personal support, setting aside funds for unexpected healthcare expenses and more.

"We've worked on the ABLE Act for a very long time," said World Institute on Disability's Deputy Director Thomas Foley. "Providing people with disabilities the chance to work and save money for the future without restrictive asset limits is huge."

Many individuals with disabilities and their families rely on state and federal benefits to cover living expenses. Without the ABLE Act, they are limited to no more than $2,000 ($3,000 for a couple) in assets, such as cash savings, investment accounts and other personal assets, before government support programs are reduced or suspended. That asset limit is too constraining for people with disabilities who face unexpected medical expenses, transportation fees and daily living expenses and hinders their ability to live independently.

Representative Ander Crenshaw, who championed the ABLE Act, summed it up succinctly in The Boston Globe article, "You can save money to go to college or to retire, but [people with disabilities] couldn't save money to use for disability expenditures.... It was forced impoverishment."

Enactment of the ABLE Act in California is moving forward in: Assembly Bill 449 introduced by Assemblymember Jacqui Irwin and Senate Bill 324 introduced by Senator Fran Pavley. The Act is under consideration in 29 states and recently was passed in Virginia.

Modeled after 529 college savings plans, interest earned on ABLE accounts is tax free. Qualified individuals, their family members and friends can deposit $14,000 (the annual gift-tax exemption) annually in ABLE accounts up to $100,000 without risking SSI eligibility. Each state can establish a higher annual limit corresponding to their 529 account limits. Balances up to $300,000 will not affect Medicaid coverage eligibility.

"Educating the public about the importance of passing the ABLE Act in California will be a top priority for California's Independent Living Centers," noted Liz Pazdral, Executive Director, California State Independent Living Council. "Without these accounts, many people with disabilities have limited avenues for true independence. Through resources, such as the 'Understanding ABLE' free webinar on March 26 and information on Youth Organizing! Disabled and Proud's website, the public can learn about the ABLE Act.  And we need to share real-life stories with our policymakers on how the Act will improve the lives of Californians with disabilities."

The California State Independent Living Council is an independent state agency which, in cooperation with the California Department of Rehabilitation, prepares and monitors the State Plan for Independent Living.

The SILC Mission: To Create Policy and System Change for Independent Living


SOURCE California State Independent Living Council (SILC)
Copyright©2015 PR Newswire.
All rights reserved

Related biology technology :

1. Mayor of Oklahoma-Tornado-Impaired Town Proposes Storm Shelter Bill, My Cleaning Products Offers Complimentary Molderizer and Safe Shield to Help Victim with Looming Mold
2. Sangamo BioSciences Proposes Public Offering Of Common Stock
3. Polymer gel, heal thyself: University of Pittsburgh engineering team proposes new composites that can regenerate when damaged
4. Verdad Media’s Unique MANIS Technology Means Better Reputation Management Results for Clients
5. Study Says Bed Bugs Show Resistance to Pesticides, My Cleaning Products Asserts Non-Pesticide Bed Bug Bully Is the Better Pick Against the Pests
6. Bed Bugs Hit Another Apartment Complex, My Cleaning Products Says Non-Pesticide Bed Bug Spray Makes the Better Elimination Help and Offers Samples of It
7. Utah, There is No Better Place U.S. Chamber of Commerce Ranks Utah as the Top Performer in the Nation
8. Competitor Analysis: Therapeutic Proteins - Biosimilars, Biobetters & Biosuperiors
9. Study led by GW professor provides better understanding of waters freezing behavior at nanoscale
10. New Monitoring System Will Better Protect NASA Astronauts on ISS
11. Natural Acne Remedy, Probiotic Action Explains the Science behind Using Probiotics for Better Health
Post Your Comments:
(Date:10/11/2017)... , ... October 11, 2017 , ... ... the implantation and pregnancy rates in frozen and fresh in vitro fertilization ... progesterone and maternal age to IVF success. , After comparing the results from ...
(Date:10/10/2017)... ... October 10, 2017 , ... Dr. Bob Harman, founder and CEO of ... Rotary Club. The event entitled “Stem Cells and Their Regenerative Powers,” ... Dr. Harman, DVM, MPVM was joined by two human doctors: Peter B. Hanson, ...
(Date:10/9/2017)... DIEGO , Oct. 9, 2017  BioTech ... biological mechanism by which its ProCell stem cell ... critical limb ischemia.  The Company, demonstrated that treatment ... amount of limbs saved as compared to standard ... the molecule HGF resulted in reduction of therapeutic ...
(Date:10/7/2017)... , ... October 06, 2017 ... ... experience providing advanced instruments and applications consulting for microscopy and surface analysis, ... in application consulting, Nanoscience Analytical offers a broad range of contract analysis ...
Breaking Biology Technology:
(Date:6/30/2017)... 2017 Today, American Trucking Associations announced ... face and eye tracking software, became the newest ... "Artificial intelligence and advanced sensing ... a driver,s attentiveness levels while on the road.  ... detect fatigue and prevent potential accidents, which could ...
(Date:5/16/2017)... 16, 2017   Bridge Patient Portal , ... MD EMR Systems , an electronic medical ... GE, have established a partnership to build an ... the GE Centricity™ products, including Centricity Practice Solution ... These new integrations will allow healthcare delivery ...
(Date:4/17/2017)... 17, 2017 NXT-ID, Inc. (NASDAQ: NXTD ... filing of its 2016 Annual Report on Form 10-K on Thursday ... ... available in the Investor Relations section of the Company,s website at ... website at . 2016 Year Highlights: ...
Breaking Biology News(10 mins):