STATEHOUSE (March 23, 2016) — Gov. Mike Pence signed into law this week the ABLE Care Act, co-sponsored by State Rep. Eric Koch (R-Bedford), which will greatly assist Hoosiers with disabilities.
In 2013, the federal government enacted the Achieving a Better Life Experience (ABLE) Act, allowing people with disabilities to set up tax-free savings accounts that do not impact their means-tested public assistance benefits. The money in these savings accounts may be used to pay for services including medical and dental care, education, employment training, housing and transportation. Indiana is establishing a state ABLE Program under this new law.
“I’m proud this legislation will ease the financial challenges faced by many Hoosiers with disabilities,” Koch said. “It will allow Hoosiers with disabilities to plan and save for future qualified expenses like education, housing and transportation, which will benefit both their families and our communities.”
Koch said ABLE accounts will supplement, but not supplant, benefits provided through private insurers, the Medicaid program, the supplemental security income program, the beneficiary’s employment and other sources.
The ABLE Act provides individuals with disabilities the same types of flexible savings tools that all other Americans have through college savings accounts, health savings accounts and individual retirement accounts.
The new law will take effect on July 1, 2016. For more information on this law visit iga.in.gov.
Rep. Koch (R-Bedford) represents all of Brown County, most of Lawrence County and parts of Monroe, Jackson and Johnson counties.
State Rep. Eric Koch (R-Bedford) watches as the ABLE Care Act (Senate Enrolled Act 11), which he co-sponsored, is signed into law by Gov. Mike Pence.