New tax-free accounts help people with disabilities save for the future

A new tax-free state savings account will help Pennsylvanians raising or caring for those with disabilities.
PA Sen. Lisa Baker (R-20) joined Pennsylvania Treasurer Joe Torsella and U.S. Sen. Bob Casey (D-PA) this month to launch the Achieving a Better Life Experience, or ABLE, program. 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.
"Initiative and family responsibility are rewarded," Baker said. "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."
Administered by the state treasury, ABLE accounts:
Provide people with disabilities with a way to be more financially independent.
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 range of disability expenses including basic living, housing, education, health, legal, and transportation.
Allow others to give funds to the eligible person without the gift affecting benefits.
“The people deserving commendation are the families, the groups, and the individuals who engaged in the advocacy and education efforts," Baker said. "Your caring and commitment truly made the difference.”
To learn more or to enroll, visit paable.gov.