BIAA Urges Swift Action as the ABLE Age Adjustment Act Becomes Part of the EARN Act
June 23, 2022
Fairfax, VA – The Achieving a Better Life Experience (ABLE) Age Adjustment Act has been included in Encouraging American Retirement Now (EARN) Act as of June 23, 2022. The EARN Act will now head to the Senate for consideration.
“The Brain Injury Association of America is delighted that the ABLE Age Adjustment Act has been included in the EARN Act,” said Susan Connors, BIAA president and CEO. “In these uncertain economic times, the brain injury community would welcome the opportunity to save in tax-advantaged ABLE accounts. We urge the Senate to take swift action.”
The ABLE Act, passed in 2014, allows individuals who sustain brain injuries or other disabilities before age 26 to save for their long-term care and related expenses through tax-advantaged savings accounts with contributions of up to $16,000 per year without risking the loss of certain federal benefits, such as Social Security Insurance (SSI) and Medicaid. The bipartisan ABLE Act Adjustment Act, introduced by Sens. Bob Casey (D-PA), Jerry Moran (R-KS), Ron Wyden (D-OR), Chris Van Hollen (D-MD), John Boozman (R-AR), Richard Blumenthal (D-CT), and Lisa Murkowski (R-AK), builds upon the 2014 legislation to expand eligibility to individuals who become disabled before turning 46. This will allow them to save and pay for needed assistance that may be limited or not even covered under federal programs, such as housing, therapy, transportation, health care, education, and retirement.
The Brain Injury Association of America (BIAA) is the Voice of Brain Injury on Capitol Hill, advocating for greater access to care, expanded brain injury research, adequate resources for state programs, and increased congressional awareness of brain injury issues. Through weekly Policy Corner emails, social media outreach, and an online Legislative Action Center, BIAA has supported and continues to support the ABLE Age Adjustment Act as a step forward for the brain injury community and the disability community as a whole.
Stay informed about policy issues impacting the brain injury community by signing up for BIAA’s advocacy mailing list here.
About the Brain Injury Association of America:
The Brain Injury Association of America is the country’s oldest and largest nationwide brain injury advocacy organization. Our mission is to advance awareness, research, treatment, and education and to improve the quality of life for all people affected by brain injury. We are dedicated to increasing access to quality health care and raising awareness and understanding of brain injury.