New in Can We Still Govern? ABLE is program that allows people with disabilities and their families to minimize the constraints of asset limits and achieve financial independence. But very few people use it. Why? And what can policymakers do about it? donmoynihan.substack.com/p/able-is-a-...
To Make ABLE Work, Reduce Administrative Burdens
tbh i wonder if the "disability began prior to age 26" isn't also limiting. I suspect the study only looked at people who were definitely in that group, though? Because if my disability in 2012 had been permanent, I wouldn't have had enough work credits for SSDI, but at 28, too old for ABLE with SSI
I've finished my thread on being a Disabled person running my own ABLE account for anyone curious.
Every year via a program called “VITA”, IRS trains competent volunteer citizens to help people file their taxes for free, but if we can get to “people really don’t need that”, due to new IRS thing, we can use the same “pool” of paperwork nerd volunteers 🖐️ to help people with their paperwork for SSI.
THANK YOU!! We use (or try to use) Texas Able and...it's a struggle!!!
FYI, there was an ABLE Adjustment Act that let some people up to age 46 open an acount.
Thank you. I’m going to look into this.
Thanks for sharing this. I still think raising savings limits is most straightforward policy solution, but anything raising more awareness of ABLE (and its pros & cons) is good!
Great piece. We have an ABLE account for our daughter, but have experienced many of the concerns and doubts raised here.
If you have an asset of 2K or more and have a disability, you can lose vital income supports and health care. This makes it hard to build any sort of financial security. ABLE is meant to solve this by allowing people to save up to $100K. But just 7% of people w disabilities have even heard of it.