Individuals with disabilities and their families often depend on public benefits for income, health care and food and housing assistance. Eligibility for public benefits like SSI, SNAP and Medicaid require meeting a means-test that limits eligibility and requires individuals to report more than $2,000 in assets.

The ABLE Act allows certain individuals with disabilities the opportunity to save resources in a tax-advantage savings account. Savings in an ABLE account can be used to cover disability-related expenses such as education, housing, transportation, employment supports and services and more, and funds in an ABLE account will not largely affect eligibility for public benefits.

Currently, the ABLE Act limits eligibility to individuals with significant disabilities whose disability onset occurred before age 26. There is a new bill called the ABLE Age Adjustment Actwhich will increase the age for eligible account-holders from age 26 to age 46.