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Raise the Qualifying Age for ABLE Accounts and Expand Access for Millions
Since 2014, The ABLE (Achieving a Better Life Experience) Act has allowed people with disabilities up to age 26 to establish tax-advantaged savings and investment plans called ABLE Accounts which allow them to pay for the high costs of disability expenses – like therapies, modified vehicles, and medications. But to be eligible for an ABLE account a person must have acquired their disability prior to age 26. This age cap unfairly excludes many individuals who become disabled later in life, including many people with spinal cord injuries, Lou Gehrig’s disease and multiple sclerosis.
By extending the age of disability acquisition to 46, The Able Age Adjustment Act (S. 331) would expand the pool of applicants by eight million individuals, ensuring millions more people with disabilities are able to bear the high costs of their disability-related expenses and lead more independent lives.
Extend the eligibility for an ABLE account by increasing the age of disability acquisition from age 26 to 46.
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Jewish Federations provide critical lifelines to those most in need within the Jewish community and beyond. Click on the button below to contact your local Jewish Federation and learn about how you can help those who need it the most.