ABLE Accounts: Supporting People With Disabilities-ABLE Accounts: Supporting People With Disabilities

ABLE Accounts: Supporting People With Disabilities

Video Transcription

Video Summary

In this AARP video, Janae Wheeler provides information about ABLE (Achieving a Better Life Experience) accounts. Wheeler explains that ABLE accounts are tax advantaged savings accounts for Americans with disabilities, allowing them to save for future care without impacting federal aid. Eligibility is based on disability onset before a certain age, a terminal or long-term disability, and marked functional limitations. Wheeler also discusses how ABLE accounts can be managed by caregivers and used for disability qualified expenses. The video includes a personal testimonial from a family benefiting from an ABLE account. It concludes by mentioning the variation in state programs and providing resources for further information.

Keywords

ABLE accounts

tax advantaged savings accounts

Americans with disabilities

federal aid

disability qualified expenses