[dbmat] Re: Fwd: [AVIT] Legislative Update: En-ABLE-ing Better Financial Planning for Families

  • From: Becky Harmon <becky-harmon@xxxxxxxxxxxxx>
  • To: "dbmat@xxxxxxxxxxxxx" <dbmat@xxxxxxxxxxxxx>
  • Date: Thu, 15 Jan 2015 12:26:16 -0600


Sent from my iPhone

> On Jan 15, 2015, at 11:41 AM, Melanie Knapp (Redacted sender "rmkrn1@xxxxxxx" 
> for DMARC) <dmarc-noreply@xxxxxxxxxxxxx> wrote:
> Thank you for sending. Sounds like this is a good thing
> Melanie 
> Sent from my iPhone
>> On Jan 15, 2015, at 11:14 AM, paul welch <pwelch@xxxxxxxxxxxxx> wrote:
>> 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
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