State Senator Becky Massey (R-Knoxville) is hosting an informational meeting on Monday, August 22, to help individuals with disabilities tap into the state’s Achieving a Better Life Experience (ABLE TN) program. The meeting for individuals with disabilities and their families is scheduled for 5:30 – 6:30 p.m. at the Sertoma Center at 1400 East 5th Avenue in Knoxville.
An earlier meeting which begins at 1:30 p.m. will be held to help professionals who work with individuals with disabilities at the same location.
“ABLE TN provides eligible 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,” said Senator Massey, who sponsored the ABLE TN law. “It allows qualified individuals with disabilities to save up to $14,000 a year in an ABLE account without jeopardizing their eligibility for federally-funded means tested benefits, such as Social Security and Medicaid. It will help these individuals to have the flexibility and independence they need to truly achieve a better life.”
Tennessee is one of the first states in the nation to offer these savings accounts. It allows individuals with disabilities to pay for expenses including but not limited to education, housing, transportation, employment, employment training and support, assisted technology, personal support services, and funeral and burial expenses. Earnings on investments in an ABLE TN account are tax-free as long as the funds are used to cover the cost of qualified disability expenses.
The informational meeting will help citizens get started on establishing an account, including details regarding eligibility, features and benefits, qualified expenses and more. To reserve a space a RSVP is appreciated by calling 1-800 449-TENN ext. 11648.