Governor John Bel Edwards has proclaimed August 2017 as #ABLEtoSave month.
The hope is raise awareness about the integral role the ‘Achieving a Better Life Experience,’ or ABLE act, plays for people with disabilities.
In a statement on Tuesday, the Governor said the ABLE act will allow families with children who have disabilities to save for their future expenses and enable working adults to save as well while retaining their health benefits through Medicaid or Social Security.
The ABLE act was passed in 2014 and added Section 529A to the federal tax code, which enables individuals with disabilities to save assets without jeopardizing their eligibility for critical public benefits, such as Medicaid and Supplemental Security Insurance.
To date, 48 states and the District of Columbia have passed the ABLE act.
For more information on the ABLE act, CLICK HERE.