SD Network

Category: ABLE Accounts

Starting January 1st, people with disabilities are able to save more money in ABLE accounts which are accounts that allow them to save without jeopardizing their government benefits. The Internal Revenue Service increased the federal gift tax exclusion from $18,000. The new limit is up from $1,000 last year. 

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The National Institutes of Health recently designated people with disabilities as a population with health disparities. People with disabilities often experience a wide and varying range of health conditions leading to poorer health and shorter lifespan. In addition, discrimination, inequality and exclusionary structural practices, programs and policies inhibit access to timely and comprehensive health care, which further results in poorer health outcomes. People with disabilities who also belong to one or more other populations with health disparities fare even worse.

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Wisconsin is currently the only state that doesn't have an ABLE program, which provides a tax-free savings account for people with disabilities. Currently, Wisconsinites can open accounts in other states, but not many have. A bill in the legislature would allow people in Wisconsin to open accounts. 

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ABLE accounts allow individuals with disabilities to save money without jeopardizing access to federal benefits like Medicaid and Supplemental Security Income. People with disabilities can use ABLE accounts to invest and save for disability-related expenses, such as housing, transportation and assistive technology. Wisconsin is one of only four states that doesn't have a ABLE program, but a bipartisan bill could soon change that.

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People with disabilities can save more money without jeopardizing eligibility for government benefits thanks to a change in tax rules for the new year.  Starting this month, the federal gift tax exclusion increases from $16,000 to $17,000 annually, according to the Internal Revenue Service. 

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As the pandemic whines don't (or at least as things return to a new normal), many people with disabilities hope accessibility gains made during the last few years won't be forgotten. Platforms such as Zoom and Microsoft Teams have made it possible for everyone --especially those with disabilities-- to participate in many different kinds of events that they otherwise wouldn't have been able to. Many of these accommodations weren't readily available before the pandemic. People with disabilities hope these now simple accommodations will continue. 

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Artificial intelligence has blown up in recent years. People use it multiple times a day to perform tasks or to obtain information. For many people with disabilities, artificial intelligence has made a huge impact on independence. There are countless examples of this.One unique way is in the classroom. This article talks several different ways robots can be used to assist children with disabilities in the classroom. 

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States have lots of flexibility on what they can use the extra $12.67 billion for Medicaid home-and-community-based services on. The funding is part of the American Rescue Plan. States can use the money for everything from getting people off waiting lists to increasing wages for caregivers. Funding must be used to “supplement, not supplant” existing services, the guidance states, meaning that it has to be spent on home and community-based services that were not available under the Medicaid program as of April 1.

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Today, the ABLE National Resource Center (ABLE NRC) released the new ABLE Employer Toolkit. The toolkit consists of resources for employers to share with employees impacted by the additional and often significant expenses that can be associated with having a disability. Toolkit items are downloadable and free of charge.

Even with a well-paying job, employees who have a disability, or employees who support family members who have a disability, often face significant costs to maintain health, independence and quality of life. ABLE accounts are key to “Achieving a Better Life Experience” for your employees with disabilities and their families. An ABLE account can be used to support your employees’ ability to work and to increase their productivity, which results in a diverse, valued and productive workforce. The ABLE Employer Toolkit can help you understand and integrate ABLE into your employee benefits program to support their success in work and life.

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The ABLE National Resource Center (ABLE NRC) is the leading, comprehensive source of objective, independent information about federal- and state-related ABLE programs and activities, including guidance on tax-advantaged ABLE savings accounts. Our mission is to educate, promote and support the positive impact ABLE can make on the lives of millions of Americans with disabilities and their families. 

The ABLE National Resource Center is seeking to identify ABLE account owners to participate as ABLE NRC Ambassadors in 2020. This will be our third cohort of ABLE Ambassadors. Click on the following links to learn more about our 2019 ABLE Ambassadors and our ABLE NRC Ambassador/Advisor Alumni.

We are looking for parents/guardians and working-age adults with disabilities that represent a diversity of experiences in terms of their reasons for opening an account, their short- and long-term financial goals related to the account, and how they hope the account will help increase their health, independence, and/or quality of life.

We are also looking for diversity represented by selection and participation in different state ABLE programs, type of disability, age, gender, religion, sexual orientation, race and ethnicity.

ABLE NRC Ambassadors receive a $500 contribution to their ABLE account at the end of the year, based on full participation in the Ambassador program. This includes all meetings, regularly scheduled interviews and submission of pictures that will be used to define the ABLE experience.

Applications due November  8th.  Apply today!

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