Sent from my iPhone Begin forwarded message: > From: "Kenneth Semien, Sr." <semien@xxxxxxxxxxxxx> > Date: January 15, 2015 at 2:29:18 AM CST > To: AVIT <alliancevit@xxxxxxxxxxxxxxxx> > Subject: [AVIT] Legislative Update: En-ABLE-ing Better Financial Planning for > Families > > En-ABLE-ing Better Financial Planning for Families > On December 19th, the President signed into law the Achieving a Better Life > Experience (ABLE) Act, aimed at reducing financial burdens for people with > disabilities and their families by providing them access to tax-saving 529 > Education Savings Plans, called 529-ABLE Accounts. While there will be a > delay while each state sets up and begins to operate these > accounts, the passage of the Act means that soon people with disabilities and > their families will be able to set aside funds(up to $14,000 per year) for > disability-related expenses to supplement insurance and other benefits. > Importantly, money set aside in these funds, up to $100,000, will be excluded > from the income and assets calculations which are used to determine > eligibility for federal benefits such as SSI. Also, Medicaid > benefits eligibility will not be impacted by funds saved in an ABLE account. > States will have to determine asset/income eligibility with respect to ABLE > Accounts for other state benefits which do not include federal funds. > Eligible individuals must have a condition that occurred before age 26. We > strongly encourage people who are blind/visually impaired and families of > children who are blind/visually impaired to consult their tax advisers about > the financial planning benefits and implications of the ABLE Act and 529-ABLE > Accounts. Stay tuned to AFB’s Policy Center and FamilyConnect for future > updates on this and other important topics for families! > > Read the text of the ABLE Act. > Questions? Email Rebecca Sheffield, Senior Policy Researcher, at > rsheffield@xxxxxxx > > You can unsubscribe at any time. To remove your name from this mailing list, > or to find out what other newsletters are available from AFB, visit > http://www.afb.org/myafbnewsletter.aspx. > > > > -- > To learn more about AVIT, visit the AVIT website: alliancevitexans.org > --- > You received this message because you are subscribed to the Google Groups > "Alliance of and for Visually Impaired Texans (AVIT)" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to alliancevit+unsubscribe@xxxxxxxxxxxxxxxx. > To post to this group, send email to alliancevit@xxxxxxxxxxxxxxxx. > For more options, visit https://groups.google.com/d/optout.