Achieving A Better Life Experience (ABLE) Act
Division B of Public Law 113-295
The Stephen Beck, Jr. Achieving a Better Life Experience Act (ABLE) Act was signed into law on December 19, 2014. The law allows eligible individuals with disabilities the ability to establish “ABLE accounts” for qualified beneficiaries that resemble the qualified tuition programs, often called “529 accounts”, that have been established under that section of the tax code since 1996. The new ABLE accounts will allow more individual choice and control over spending on qualified disability expenses and limited investment decisions, while protecting eligibility for Medicaid, Supplemental Security
See this helpful fact sheet compiled by The National Arc.