DISABILITY SCOOP: ABLE Accounts Slow To Catch On
New data shows far fewer people have opened ABLE accounts than are needed to ensure viability of the program. Created under a 2014 federal law, ABLE accounts enable people with disabilities to save up to $100,000 without risking eligibility for Social Security and other government benefits. Less than 35,000 ABLE accounts were opened as of the end of 2018, and 450,00 need to be opened by June of 2021 in order to self-sustainability and continue to offer ABLE plans with low fees.
