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Pennsylvania Treasury Announces PA ABLE Savings Account Program

Tax-free savings accounts for helping people with disabilities save money for future care and services are now available through the Pennsylvania Treasury.  Called PA Achieving a Better Life Experience, or PA ABLE, the program allows a maximum of $14,000 to be contributed per year up to an account maximum of $511,758.00 for anyone with a qualifying disability that started prior to age 26.  Qualifying disabilities include demonstrated by entitlement to Supplemental Security Income (SSI) benefits or Social Security Disability Insurance (SSDI) based on blindness or disability, or by self-certification of a similarly severe disability.  Withdrawals from the account may be used for qualified disability expenses such as education, housing, transportation, employment training, and assistive technology.  For more information and to download forms to apply for a PA ABLE account, visit http://www.paable.gov/.

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