Steve Rosen, Tribune Content Agency
Stuffed inside President Donald Trump’s “One Big Beautiful” tax act, which was signed into law in July, are several provisions aimed at helping families with disabled children.
The Achieving a Better Life Experience accounts, or ABLEs, offer individuals of all ages with disabilities to save up to $100,000 without jeopardizing Medicaid and other government benefits regardless of how much is in the account.
ABLEs, which were launched in 2014, allow individuals to use the money to pay for qualified and ongoing disability expenses, such as education, health care, transportation, and housing. Interest earned is tax-free, and distributions aren’t taxed if the money goes toward qualified expenses. Like 529 college savings plans, ABLE’s are state sponsored, a