Learn about the Achieving a Better Life Experience (ABLE) Act

Learn about the Achieving a Better Life Experience (ABLE) Act

Join us on Thursday, September 20, 2018 to receive an overview of the ABLE Act, an innovative savings program for individuals with disabilities, as well as to learn about the benefits and limitations of the act. This event is free and open to the public and will take place from 6:30 pm to 8:30 pm at the Somerville Elks Lodge # 1068, located at 375 Union Avenue in Bridgewater. Q & A time for attendees is included in this 90 Minute session.

Adam P. Wilson from Hinkle, Fingles, Prior & Fischer will be the presenter for the event. Adam holds two undergraduate degrees from Pennsylvania State University, graduating with High Honors, and graduated Cum Laude from Rutgers School of Law-Camden. Adam frequently lectures on a variety disability-related legal topics.

An RSVP is requested and seating is limited.  Please contact Jamon Watson at 908-725-8544, x607 to reserve your seat today.


What is Achieving a Better Life Experience (ABLE)?

Enacted December 19, 2014, Public Law 113–295, also known as The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE Act), added Section 529A to the federal tax code. More commonly referred to as The ABLE act, this law allows eligible individuals with disabilities and their families to save money for disability related expenses in a tax-exempt account known as an ABLE account.

What are ABLE accounts?

ABLE accounts are tax-advantaged savings accounts intended to encourage and assist individuals with disabilities and their families to save private funds to supplement benefits provided through private insurance, Medicaid, supplemental security income (SSI), employment, and other sources.

Most individuals with disabilities depend on Medicaid to access disability related services needed to maintain health, independence, and quality of life. Establishing an ABLE account allows beneficiaries to save money for disability related expenses while maintaining eligibility for means tested Federal benefit programs. Money saved in an ABLE account will not affect an individual's eligibility for SSI (up to $100,000) and will allow the beneficiary to maintain eligibility for Medicaid and other public benefits.

The above information taken from: https://www.state.nj.us/humanservices/dds/hottopics/able/