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Able Accounts

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  • The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE Act), enacted on December 19, 2014, allows an eligible individual with special needs to have a tax-free savings account without jeopardizing his or her Medicaid and SSI eligibility. This new savings tool, modeled after the 529 college-savings plans, allows disbursements, including earnings, from the account to pay for qualified expenses.

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