Senate approves the ABLE Act

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The ABLE Act allows for savings accounts for individuals with disabilities for certain expenses, like education, housing, and transportation, without jeopardizing certain important federal benefits such as SSI and Medicaid. The funds saved in these accounts, if managed correctly, can be another tool in planning for the lifetime support needs of an individual with disabilities. Up to $14,000 a year can be put in an ABLE account, with a cap of $100,000.