The federal Achieving a Better Life Experience, or ABLE, Act, became law in 2014, and now the first states are almost ready to implement it. ABLE allows people with disabilities to save up to $100,000 in a special account without risking their Social Security and other government benefits, and Medicaid can be retained no matter how much is deposited in the accounts. Unfortunately, states had to pass their own legislation and establish regulations for the new savings vehicle before people could begin using them. Virginia and Florida hope to implement ABLE later this year. For more information about ABLE, check out the following links:
http://states had to pass their own legislation and establish regulations for the new savings vehicle.
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