Congress will soon be voting on the bipartisan ABLE Act (Achieving a Better Life Experience Act). This law would allow people with disabilities to have savings in a tax-free account, similar to a 529, without risking their Social Security eligibility, and save any amount without risking their Medicaid benefits. The Act has an overwhelming number of backers and sponsors, because it’s the right thing to do.
This law would be profoundly helpful to those with special needs, who now are discouraged from working or saving due to the current abysmal $2,000 cap on assets. ABLE funds could be used by the individual for education, employment training, health care, housing and transportation, enabling more independent, self-sufficient lives.
Sign the petition! http://www.change.org/petitions/u-s-house-of-representatives-pass-the-able-act