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Disability Action Center NW

ABLE accounts can play a crucial role in promoting financial security and independence for individuals with disabilities in the workplace. Here are some key benefits:

ABLE to Work: If the individual with a disability is working, the person can contribute up to an extra $13,590 more every year to an ABLE account (a maximum of $30,590 per calendar year).

Tax Advantages: Contributions to ABLE accounts are made with after-tax dollars, and earnings grow tax-free. Withdrawals for qualified disability-related expenses are also tax-free.

Asset Protection: ABLE accounts are financial tools built specifically for people with disabilities, which allow them to save and spend money while protecting their public benefits such as Medicaid and SSI.

Financial Spending & Flexibility: Money spent from an ABLE Account should relate to the disability, and help maintain or improve health, independence, or quality of life.

People with disabilities are a critical part of the national conversation on diversity, equity, and inclusion. We can foster greater empowerment for this community by removing financial barriers and poverty-level limitations. People with disabilities should be able to invest in their long-term financial well-being.

Throughout the country, businesses are prioritizing diversity, equity, and inclusion and accessibility (DEIA) in the workplace. And that means attracting, retaining, and supporting employees with disabilities and their caregivers. Educating employees about ABLE accounts and offering ABLE account benefits is an excellent way to promote disability inclusion and recruit new talent.