PA ABLE Accounts Help Individuals with Disabilities Save for the Future

 

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HARRISBURG – Sen. Lisa Baker (R-20th) joined Pennsylvania Treasurer Joe Torsella and U.S. Sen. Bob Casey (D-PA) to officially launch the Achieving a Better Life Experience, or ABLE program, a landmark tax-free state savings account to help alleviate some of the financial challenges faced by families raising or caring for those with disabilities.

During remarks made Monday, Baker noted the importance of the program for a family’s financial health and well-being.

“The ABLE program reflects sensible and solid change. Initiative and family responsibility are rewarded. The door opens for individuals to take steps to increase their ability to function and contribute. When families can set aside funds for a better safety net, worry diminishes. No longer will so many families be forced to make an impossible choice between services and savings,” she said.

Sen. Casey led the effort at the federal level, and Baker worked with disability advocates from throughout the state to bring the program to Pennsylvania. Administered by the state treasury, ABLE accounts:

  • Provide people with disabilities with a way to be more financially independent.
  • Save on taxes; accounts grow tax-free and, when used for qualified disability expenses, are tax exempt.
  • Protect eligibility for means-tested federal benefits and state disability, medical assistance, health, and student aid benefits.
  • May be used to pay for a wide range of disability expenses including basic living, housing, education, health, legal, transportation, and more.
  • Allow others to give funds to the eligible individual without the gift impacting benefits.

Praising those that helped to ensure families have a way to plan for the lifetime support needs of individuals with physical or intellectual limitations, Baker said, “The people deserving commendation are the families, the groups, and the individuals who engaged in the advocacy and education efforts…your caring and commitment truly made the difference.”  

To learn more or to enroll, go to: http://www.paable.gov/

Sara Wolff, a Moscow resident and National Down Syndrome Society (NDSS) board member, addressed those gathered in Harrisburg on Monday at the official launch of the Achieving a Better Life Experience, or ABLE, savings accounts. The first one in the state was assigned to her. Among those looking on are state Sen. Lisa Baker, U.S. Sen. Bob Casey Jr. and state Treasurer Joe Torsella. Wolff noted that because of ABLE, families like hers are able to take care of their children with disabilities, as ABLE allows individuals to save for their future, hold meaningful jobs and contribute to society.
State Sen. Lisa Baker and U.S. Sen. Bob Casey Jr. chat in the state Capitol rotunda at the official kickoff announcement of the state’s Achieving a Better Life Experience, or ABLE, savings accounts to benefit families and caregivers of those with physical and developmental disabilities.
Advocates of the state’s Achieving a Better Life Experience, or ABLE, saving accounts gathered in the state Capitol rotunda on Monday to celebrate the official launch of the program championed by Sen. Lisa Baker that will benefit families and caregivers of those with physical and developmental disabilities

 

Contact:
Andrew M. Seder
aseder@pasen.gov
(570) 226-5960