By Aaron Bishop, Commissioner, Administration for Intellectual and Developmental Disabilities, and Edwin Walker, Deputy Assistant Secretary for Aging
“The goal of the Administration for Community Living is to maximize the independence and well-being of older adults and people with disabilities. We are proud to be a leader in exploring alternatives to guardianship. We believe supported decision-making poses the most promising and flexible model.”
The US Senate passed this week (76 to 16) to approve the “ABLE Act” (Achieving a Better Life Experience) which will allow people with disabilities (with an age of onset up to 26 years old) and their families the opportunity to create a tax-exempt savings account that can be used for maintaining health, education, transportation, housing, independence and quality of life. Individuals will be able to now deposit up to $14,000 annually under current gift-tax limitations and accrue as much as $100,000 without risking eligibility for Social Security and other government programs.
Call our RI and national Congressional Members to VOTE FOR this very important Federal Bill (The ABLE Act) in the next few weeks which will allow people with disabilities to have up to $100,000.00 in a tax free account WITHOUT jeopardizing their benefits.