Tuesday, April 24, 2012

ABLE Act National Call In Day Wednesday 4/25

Down Syndrome Daily reports today on the ABLE Act. People with disabilities receiving Medicaid benefits are limited to $2,000 in assets. In many cases this prevents them from improving their quality of life were they cannot get a job with a decent salary, cannot save to buy a car or a home, cannot save to pay for medical services beyond what is covered by Medicaid, cannot save money from birthdays/holidays, and cannot save to pay for their future aspirations. They are basically forced to live at poverty levels because of their need for Medicaid support.

If passed by Congress, the Achieving a Better Life Experience Act will provide a savings account (ABLE account) similar to a retirement account, health savings account, or education savings account where the money in the account will not count against the $2,000 Medicaid asset limitation. The person will be able to save money for their future and continue to receive their Medicaid support allowing for greater independence and quality of life.

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