If passed and made into law, this existing bill can change the lives of people with developmental disabilities for the better.
Last July 22, 2021, the ABLE Employment Flexibility Act or H.R.4672 was introduced in House by Representative Thomas R. Suozzi. This bill aims to amend the Internal Revenue Code to allow employers to contribute to ABLE (Achieving Better Life Experience) accounts in lieu of retirement plan contributions.
The ABLE account was established to pay the expenses (e.g., food, education, housing, transportation, employment training and support, and health care expenses) of a designated beneficiary who is disabled. With the implementation of this bill, this act will protect working-able individuals from losing all of their benefits due to retirement plan rules.
This also permits employers to contribute to an employee’s ABLE account instead of a 401(k). By saving it in the ABLE account, it will not adversely affect most means-tested federal benefits.
This is especially important for us healthcare providers to know since this can ultimately change the lives of our clients with disability. As a learning institute, EDS Learning Institute makes sure to equip its students about their clients’ rights and how they may be able to help in the future.
As providers of healthcare training, we can help increase employment opportunities with the partnership of foundations like NFXF and the CEO Commission for Disability Employment. This is not something we see on the news daily but it is made possible because of the people who are most affected.
We hope this blog provided you with new knowledge. If you want to learn more, do not hesitate to contact us! Our institute also provides ABA training for interested students.
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