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DISABILITY SCOOP: Congress May Consider Tweaks To ABLE Accounts

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By: SD Network
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Lawmakers continue to tweak ABLE Accounts (accounts  that will allow people with disabilities to save up to $100,000 without jepordizing their Social Security and other government benefits).   The changes would allow more flexibility to those using the accounts. Some of the proposed changes include:

  • Allowing  people with disabilities who are employed to allocate extra money to their ABLE accounts
  • Expanding eligibility to include people with disabilities that onset by the age of 46 (current requirement is that conditions must exist before the age of 26)
  • Allowing families to rollover money they've saved for a person with a disability in a 529 college savings plan to an ABLE account

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