[Mdpobc] {Disarmed} FW: ABLE Act Alert

Fri Feb 3 19:55:57 UTC 2017

Thank you, Melissa,

Parents and Families, there is a lot of information about ABLE on the internet, although this meeting will be specific to Maryland.  The Act is based on the same concept as the college 529 plan, and answers the question, if a college bound family can save money tax free for their child’s future, why can’t a family with a special needs child do the same for their child’s future? (and that child might be going to college, too!).  I am copying and pasting some basic dollar and cents information.

6. Does having an ABLE account affect Supplemental Security Income (SSI) benefits?

Only if the ABLE account exceeds $100,000. SSI benefits would be suspended but not terminated. In other words, the beneficiary of the account would not receive a check but would retain eligibility for the SSI program.

7. Does it impact Medicaid eligibility?

No

Best,

Stefanie Levy in Montgomery County

Aly’s mom, 17 yo  

From: MDPOBC [mailto:mdpobc-bounces at nfbnet.org] On Behalf Of Melissa Ann Riccobono via MDPOBC
Sent: Friday, February 03, 2017 2:16 PM
To: 'Maryland Parents of Blind Children List'; 'NFB of Maryland e-mail list'; greater-baltimore at nfbnet.org
Cc: Melissa Ann Riccobono
Subject: [Mdpobc] {Disarmed} FW: ABLE Act Alert

Hello everyone,

This should be a very good event. As a review, Able accounts will allow anyone who was diagnosed with a disability prior to age 25 to save money in a special account in order to help with expenses related to enhancing quality of life… In other words, the money can be used for pretty much anything. This money will not be taxable, as I understand it, and it will also not count as an asset when applying for or receiving SSI benefits. I can’t remember the top amount which can be saved, but it is substancial. 

Please feel free to pass this information along.

Thanks,

Melissa

From: Maryland Department of Disabilities [mailto:marylanddepartmentofdisabilities at marylanddepartmentofdisabilities.ccsend.com] On Behalf Of Maryland Department of Disabilities
Sent: Friday, February 03, 2017 9:39 AM
To: maricco at uwalumni.com
Subject: ABLE Act Alert

Maryland ABLE Town Hall: You Are Invited

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You are invited to a

Maryland ABLE Program Town Hall

Wednesday, February 22, 2017

4:00-5:30pm

Workforce Technology Center

2301 Argonne Drive

Baltimore, MD 21218

Join us for a Maryland ABLE program town hall and information session!

*	Understand the basics of the Maryland ABLE Program
*	Learn more about where Maryland is in the implementation process
*	Understand how federal policies affect Maryland ABLE
*	Provide feedback on your needs to ensure a responsive and successful program
*	Bring your questions for the implementation team

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You can also attend virtually! The town hall will be live streamed on social media with an opportunity to email questions and feedback after the event.  No registration required for this option. More information to come!

Please email accommodation requests to Carrie McGraw at  <mailto:carrie.mcgraw at maryland.gov> carrie.mcgraw at maryland.gov or call 410.767.3660 by February 15th.  

This publication is available in alternative accessible formats by emailing  <mailto:carrie.mcgraw at maryland.gov> carrie.mcgraw at maryland.gov or calling 410.767.3660

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