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ABLE Age Adjustment Act Passed by Congress

The US Congress has passed H.R.1219 – ABLE Age Adjustment Act, which lowers the age of disability onset to qualify for an ABLE savings account and increases the account savings limit. The bill, originally introduced on the senate floor by Sen. Bob Casey, D-PA in February of 2021, expands ABLE program eligibility to include an estimated 6 million more Americans, including one million veterans, by raising the age limit for onset of a disability from 26 to 46 starting in 2026. The Act also increases the ABLE account savings deposit limit from $16,000 to $17,000 per year. ABLE accounts are a tax-free way to save for disability-related expenses while maintaining means-tested government benefits.

To learn more about ABLE accounts in Pennsylvania, visit https://www.paable.gov/