Legislation helping Hoosiers with disabilities signed into law
STATEHOUSE (March 21, 2016) – The ABLE Care Act, co-sponsored by State Rep. Peggy Mayfield (R-Martinsville), was signed into law today by Gov. Mike Pence.
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 have had the privilege of working with advocates and members of the community to pass a bill that helps those who deserve assistance while fostering a positive environment that encourages individuals to thrive,” Mayfield said. “This new law allows those with disabilities to establish tax-free savings accounts to cover qualified expenses like education, housing and transportation. It’s a positive step in the right direction.”
Mayfield said ABLE accounts will supplement, but not supplant, benefits provided through private insurances, 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 www.iga.in.gov.
Rep. Mayfield (R-Martinsville) represents portions of Morgan and Monroe counties and is the Asst. Majority Floor Leader. She serves as a member of Ways and Means and Insurance committees.
NOTE TO THE EDITOR: Pictured below and attached is a picture of State Rep. Peggy Mayfield (R-Martinsville) with fellow lawmakers and Gov. Mike Pence at the ABLE Act bill signing ceremony.