In March of 2016, we reported that then Indiana Governor Mike Pence signed a bill making the “Achieving a Better Life Experience” (known as the ABLE Act) law in Indiana. We are excited to report that Indiana’s ABLE program, INvestABLE Indiana, is now officially open for enrollment in Indiana.
Congress passed the ABLE Act in December of 2014 The ABLE Act allows people with disabilities to establish tax free savings accounts without affecting their eligibility for government benefits. The purpose of an ABLE account is to use such funds to supplement an individual’s public benefits for “qualified disability expenses,” such as medical and dental care, education, employment training, housing, and transportation.
With Congressional authorization, many states have established ABLE programs. Until now, Indiana residents who desired to open an ABLE account had to open an account under an out-of-state program. With INvestABLE Indiana, Indiana residents can now open accounts in their home state.
You can learn more about INvestABLE Indiana eligibility, benefits, and investment options by visiting www.savewithable.com and clicking on the INvestABLE Indiana icon. Qualified individuals can also enroll through the website. For further assistance in determining whether you or your loved one is eligible to establish an ABLE account and to review the benefits of such account, please contact us to schedule an appointment. Our goal at the Stinson Law Firm is to secure your present and future and leave you with the peace of mind you deserve.
Jeff is Certified as an Elder Law Attorney (CELA) by the National Elder Law Foundation, a distinction held by only a handful of lawyers in Indiana. For almost 20 years, he has focused on elder law, estate planning, long-term care planning, Medicaid planning, Veterans Affairs benefits planning, special needs planning, guardianships, and estate administration.