HR 647 helps people with disabilities maintain their health and independence
WASHINGTON, DC (December 14, 2014) – Congressman Chris Gibson (NY-19) announced the passage of HR 647, the Achieving a Better Life Experience (ABLE) Act of 2014, which makes it easier for people with disabilities to work and live independently without losing access to Medicaid and Supplemental Security Income.
The ABLE Act, which passed the House December 3 with overwhelming bipartisan support, allows disabled individuals and their families to save their own money in a 529A (or ABLE) account to maintain health and independence.
“This legislation provides families with some peace of mind, giving them the ability to save for their loved one’s long-term disability expenses the same way many families save for college or retirement,” said Congressman Gibson. “More importantly, the ABLE Act empowers Americans with disabilities, encouraging their engagement in the workplace and in the community so they can live full, rewarding lives.”
ABLE Accounts would be a savings vehicle for disability-related expenses that will supplement benefits provided by private insurance, Medicaid, Supplemental Security Income, and employment. The accounts would be administered on a voluntary basis by the states like 529 college savings accounts.