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A Savings Program Especially for People With Disabilities

We have some good news to share for people with disabilities and their families. Recently, the Pennsylvania Treasury Department launched the Pennsylvania ABLE (Achieving a Better Life Experience) Savings Program (PA ABLE). The act was signed into law by then President Barack Obama in December 2014 authorizing states to create ABLE programs.

Modeled after college savings accounts, ABLE accounts allow individuals with qualifying disabilities and their families to save for a wide range of disability-related expenses while maintaining eligibility for government benefits. The federal tax-free savings and investment options are offered to encourage individuals with a disability and their families to save private funds to support health, independence and quality of life. PA ABLE accounts can be used for day-to-day expenses, as well as long-term savings goals. They can also be part of parents’ planning for the financial security of their adult children with disabilities for the time when the parents may no longer be able to provide financial support or care.

 “The ABLE Act recognizes the contributions that Kate makes to the world and it raises the standard of excellence that we can provide these children,” says Megan Brislin, whose daughter Kate has cerebral palsy and gets therapy at Good Shepherd’s outpatient Pediatrics Program. “The fact that we can set aside money today for Kate’s future is a freedom that has never been experienced before by families such as ours. It sends a message of hope and victory for parents everywhere like Ken and I, recognizing our feelings and empowering us to help our daughter’s future be much brighter.”

Kate, now 9, is blossoming. “Kate’s growing well,” says Megan. “She’s got friends, she’s a happy, contributing member of our family, and she has a great capacity to love others. Kate does have hopes and dreams and goals. She’s her own person, and she’s progressing into who she is going to be.

As parents, Ken and I want to make sure that her needs and potential are met. Having the ABLE Act in our back pocket helps keep the dream alive.”

Visit www.paable.gov for more information including eligibility requirements, contribution limits, investment options, and answers to frequently asked questions, or call 855-529-ABLE (2253).