Ten Things You Must Know About ABLE Accounts
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- čas přidán 8. 09. 2024
- VIDEO TRANSCRIPT: www.realeconomi...
On Dec. 16, 2014, the U.S. Senate overwhelmingly passed the Achieving a Better Life Experience (ABLE) Act of 2014 by a vote of 76 to 16. In recognition of this unprecedented legislation, NDI has created a list of 10 items about ABLE accounts that individuals with disabilities and their families should know.
View the full NDI press release that includes the list of Ten Things You Must Know About ABLE Accounts: www.realeconomi...
What they need to do is update the eligible limit. The cost of living is constantly going up but the eligible limit remains the same.
It went up a little
@@chellg6966I don’t believe it has
I'm only just now discovering this- from screenshots of a Tumblr post on Facebook. WHY DOES NOBODY AT THE SSA MENTION THIS?!
OMG I did too in a way, I was scrolling through Tumblr and the post started out as a meme about how people on SSI can't have over 2,000 dollars. THEN someone reblogged it with the info of the ABLE accounts!! I agree with you, why didn't anyone mention this before? It's crazy.
Exactly smh
The federal government does everything it can to make life as difficult as possible for disabled people.
@CyberLitaBot I have SSI as well. It's not much. I'm just scared I'll get taking advantage of
They wanna slap U with overpayment fuk them, a app can do a better job then gubment!
this is wonderful. I was so excited to learn about this. thank you to all who had anything to do at all with this.
Thank you
BTW - would not Medicaid Payback Account be more accurate? Consider becoming a growing number of advocacy groups that want to be clear and accurate about these accounts. It is common to call a self settled SNT a Medicaid Payback Trust. I challenge NDI to adopt this clarity in their materials.
Stephen W. Dale
Something to keep in mind that they don't tell you about an ABLE account.. If the disabled person passes away the government gets to take ALL the money that is in the account.. Get a Special Needs Trust instead because the government can never take the money that is in the trust and there is no limit on what you can put in it.. Don't give the government the opportunity to take all the money from your ABLE account
That is if only the disabled person funds the account. Idk if they would then take a portion or not. Also. There are 3 states that have changed it to where they do not take the account funds to pay back Medicaid. The rest need to follow suit.
Just wonder how to report what u buy with the money cause sometimes you can't record all things !
So the govt would take the money instead of leaving it to your kids? I knew there had to be a catch!
This will be a "good" thing if it does not end up being so filled with "regulations and rules" that it becomes tooo complicated for the average person to understand..............if the government created it, then we can be fairly sure you will need a lawyer or adviser to help you manage this new benefit. You will also have to keep a lot of records to prove your expenses...not a big deal but it will be necessary.
Barbara - if you go to achievingindependence.com/able/ and watch the first 10 minutes - you might find the 11th thing - probably the 1st thing - that advocates need to know. You can download the legislative summaries and the law itself.
Just get a box or folder and separate all receipts for this account and keep in case you get audited!
I really need an able account so I could reach my financial goals.
DO THIS TYPE OF SAVINGS ACCOUNTS FOR POLITICIANS!!!! PLEASE!!!!
When your on SSI and Medicaid its hard to reach your financial goals.
Yes it’s basically fixed income! It goes up like 40/50 dollars a year!!
Not anymore
Why is this not on the news ?
Here is a video that reviews the law and to download the legislative summaries - as well as a review of the tax provisions by a tax attorney. achievingindependence.com/able/
This is great n all but when I heard about fees I was like whoa whoa back that part up....I would never ever sign up for an able account if it had to do with fees in between all of your wonderful information u gave us. Now my only interest in considering an able account is because I wanted to save up my money whether I had a job or not and because I am living in a supportive housing apartment. But my piggy bank has something to do with TD Bank yea the worst piggy bank company which I did not know of but would happily run away from and into a better bank than TD Bank as long as that bank isn't deducting my savings money into oblivion till it hits 0.....besides I'd still want my money when I go to that bank n find out it's at 0. I'd rather know that when I'm saving up that sort of thing doesn't but this is sumthin I'd rather think about.T.T
There are a few able accounts that have cheaper fees. But it may only be useful if you are saving a chunk every month
The fees are only like 11 dollars ever 3 months correct?
but the able act discriminates against those who diagnosed as disabled after the age of 26, why should one person receive certain benefits and others not based on there age, that's a clear case of age discrimination, disabilities happen there not planned, so I'm not understanding how this law could be passed in the country we live in today clearly discriminating a whole group only because of there age when they where diagnosed disable.
Guess you didn't even watch the video lmao hesaid you can be over 26 as long as you have the proper documentation
@@judas1213 he clearly stated yes you can apply for it if you're over 26 but you better had been disabled and became disabled 26 or younger so that is discriminatory that means anybody that became disabled after the age of 26 isn't eligible for an able account
@@robinworl It's not discrimination. here's the definition of discrimination to help you out. Discrimination: the unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.
This is not discrimination because it is not unjust or prejudicial, nor are people who are above 26 being treated a "certain way". The purpose of ABLE is to HELP *YOUNG DISABLED ADULTS SO THEY CAN HAVE A BETTER CHANCE AT MAKING IT IN LIFE* , it is was made in mind of *YOUNG DISABLED ADULTS.* Please actually watch the video. It is very clearly explained WHY the age limit is there and no, it is not ageism. 🙄
Sad for people who got diagnosed late in life
Can I my money how I choose to use my money? What are the limitations because there are quite a few limitations on a snt
I am confused. can I use the Ables account to purchase dental and personal needs clothes etc for my Daughter?
Cathy ML Onboarding ... I’m sure you can if these are the things she needs
Of course if you can explain that’s what she needed! Use ssi funds or snap to buy food!
i have ssi
😳why dont you get help for this..omgaaawd i need help getting this. HOW DO YOU GET HELP..TO GET HELP WITH THIS???
They lie a lot at the ssa in hunts point ave in the bronx it's really sad 😔 😟 🙁 😥 😞 😿
My local office told me (2006) if I work failed I'd be homeless. Use the 1-800 number. The local offices care more about filling seats than they do about educating their staff with accurate information. There's also several attorneys on you tube that give great tips.
Last always ask multiple agents. You can ask 3 agents and get seven different answers. It's important to keep asking until you get the same answer from multiple agents. They just make it up as they go.
Also the SSA agents tend to get the rules confused on SSI vs SSDi. The 1-800 number seems to be better educated on the actual rules instead of blowing smoke ......
I need help with the new laws and being attacked over and over again from private sector to public sector daily are being attacked and what do you think Wuhan Viral Lab was using Windows or the x86 process. I need a van, as i am like a jailed man in my own apartment which i am grateful for. I do need to know that i was gotten this when i was 26. What now? We still have brains and need some help as we are being crushed with Medicine going up, MEdicare going up, inflation going up. Yea we can’t save or have anything from the savings limit. I need a van and they are like $50k new / used. With a ramp and everything. Then use the leftover money or set a more immediate goal to get my education paid for. I meet this criteria.
If you was 26 or under when you became disabled, you can get an Able account. The great part of this is that family can actually contribute.
Can i put money into my able account
Because if you are the age of 27+ then you suddenly don't need to save for emergencies?
Okaay. If anything was blatant ageism it would be this.
No kidding. I fully qualify for this and I still find the age requirements to be bullshit. Healthcare costs increase as you get older, wouldn't this be especially helpful for someone who becomes disabled in their 50s?
Guess you didn't even watch the video lmao he said you can be over 26 as long as you have the proper documentation
@@judas1213 I watched the video, have to prove disability occurred before the age of 26, but people can become disabled after 26, like my mother where she has a lot of trouble working and limitations on her ability to clean house and such by herself. I heard that in Ohio there's a push to change the age requirement to be more inclusive
@@SuperAllison20 We're talking about different things here, maybe he phrased it wrong but the way he has said it makes it sound that if you aren't below the age of 26 you can't have Able. But that's simply not true, you just have to provide documents proving you were DISABLED before 26, NOT that you have to be 26 or younger. Therefore, it is not "Ageism" and using it in this way is not correct and will cause people who are of lesser mind to riot and start screaming "DISCRIMINATION OMG OPPRESSION OPPRESSION! I'M A VICTIM!!1!11!!" as such an endless amount of people do nowadays. People seem to not understand that the point of ABLE is to help those who have not had a chance to even attempt life yet I.e young people disabled at or before 26. Though, I think 26 IS a tad low considering average life span is like 80 years and that there will always be a use for some saved up rainy day cash.
What if your on ssi and had settlement from and accident and only got 13'000 im scared to cash the check or take it cuz i dont want to lose my ssi
Wait a sec. So I have to be poor in order to be eligible for able account?
N you have to be disabled and poor!
"OmG dIscRiMiNaTiOn" "oMg AgEiSm" smfh. At least watch the video before you start screeching thats its unfair and unjust towards people over 26. Just because you're disabled, doesn't mean you can't use common sense.