By the end of 2016, Pennsylvanians should be able to set aside money in tax-exempt savings accounts to spend on the wide range of expenses brought on by disabilities.
The new Pennsylvania Achieving a Better Life Experience Act, also called ABLE, allows family members to contribute up to $14,000 total per year into an “ABLE account,” which is modeled after the Section 529 accounts that parents can use to set aside pre-tax savings for their children’s college bills.