ABLE accounts: A down payment on freedom

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Article examined the Achieving a Better Life Experience Act (ABLE), which was signed into law by President Obama on December 19, 2014. The act amends Section 529 of the Internal Revenue Code to allow use of tax-free savings accounts for eligible individuals with disabilities. ABLE accounts are exempt as a resource from means-tested eligibility requirements for public benefits such as Social Security Income and Medicaid. The ABLE program represents transformative policy change that will open new pathways to advance independence and economic self-sufficiency for individuals with significant disabilities. The authors describe key elements of the law and discuss the potential effect of ABLE on future disability policy and program development.

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