Policy

Support the ABLE Age Adjustment Act

The ABLE Act allows certain individuals with disabilities the opportunity to save resources in a tax advantaged savings account (an ABLE account) which can cover disability-related expenses such as education, housing, transportation, employment support and other support expenses.

We support the ABLE Age Adjustment Act (H.R. 1814/S. 651) which adds millions of new potential ABLE account holders into the pool of eligible individuals by raising the age of eligibility from 26 to 46.

The ABLE Act allows certain individuals with disabilities the opportunity to save resources in a tax advantaged savings account (an ABLE account) which can cover disability-related expenses such as education, housing, transportation, employment support and other support expenses. Your resources saved in an ABLE account are exempt from determining your eligibility for Medicaid and Supplemental Security Income (SSI). SSI monthly benefit payments will be suspended (not terminated) for funds above $100,000 and continue when assets are below $100,000.

H.R. 1814/S. 651 would:

  • Increase the eligibility threshold for ABLE accounts for onset of disability from up to age 26 to up to age 46.
  • Allow approximately 6 million more individuals to open ABLE accounts.
  • Provide long-term stability and viability of the ABLE program.
  • Allow a total of 14 million eligible individuals to open an account.

Join the social media campaign: #ExpandABLE and #ABLEAgeAdjustment

ABLE Age Issue Paper

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