Recently, the ABLE (Achieving a Better Life Experience) Act passed both the House and the Senate. This is a monumental advancement for people with disabilities.
The ABLE Act will allow disabled Americans to have tax-free bank accounts, similar to a 529 college savings plan to pay for needs like medical expenses; job coaches; education; housing; employment support; health, prevention, and wellness costs; assistive technology and personal support services and transportation. This bill makes the account tax-exempt and allows families to save this money and use it tax free. The bill would supplement, but not supplant, benefits provided through private insurances, the Medicaid program, the supplemental security income program, the beneficiary’s employment and other sources.
“The bill is huge in helping the disabled community become more independent,” says Scott Poore owner of Advanced Driving Systems of Tallahassee, FL. “I am excited about what this means for our clients. Each time a client pulls off in a new van, I know we made their life a little bit better. These vans provide them the opportunity to drive themselves to work, go shopping, do things that non-disabled individuals take for granted. This independence shouldn’t be taxed.”
This much needed financial relief is being celebrated by families of disabled persons nationwide today. L’ara Arcishewsky – mother of a beautiful new daughter who has down syndrome- said, “We will absolutely be opening an account for her, same as we have a 590 savings account for our son Aiden. It will allow us and her, when she is old enough, to save for her future. In her case it would be for further education, possible medical expenses we might encounter and living expenses. It is equally beneficial for Aiden and any other children we may have. The financial security we will be able to provide for her future will prevent our other children from feeling like they will have to manage her finances when we are gone.”
“In our line of work mobility equals freedom. This is helping American families afford the independence their loved ones deserve,” remarked Scott Poore, Owner of ADS.
The ABLE Act, paired with the many ways that you can fund your mobility and our competitive pricing on everything from full van conversions to scooter repair, ensures that Advance Driving Systems, INC is where you should come to start on your road to mobility!