Author: Treasurer Young Boozer
As Father’s Day approaches this Sunday, the entire Enable Savings Plan Alabama team wishes you a happy Father’s Day. Like every father, I want what is best for my children. I want for them to live a happy, healthy life, as well as be financially independent.
To help celebrate the amazing fathers out there, I want to share with you this blog post by Stuart Spielman, Autism Speaks Senior Policy Advisor and Counsel and father to Zac, a young man with autism. As a father of a son with a disability, Stuart faced what many of you have gone through – worrying about losing benefits due to a well-intentioned financial misstep such as accepting monetary presents to celebrate big milestones.
Before the passing of the ABLE Act by Congress in 2014, individuals with disabilities could not save more than $2,000 in their own name without impacting their public benefits such as SNAP, Medicaid and Supplemental Security Income. Thanks to the Enable Savings Plan Alabama, individuals with disabilities can save up to $14,000 annually in their own names, and their total assets can grow to $100,000 without impacting benefits.
For all of the fathers who had to endure situations similar to this, we salute you. Every father can now celebrate knowing his dreams of his child achieving financial independence has a path to reality. Thank you to those who tirelessly advocated on behalf of their children and sought change.
To read the full blog post by Stuart, link here: https://www.autismspeaks.org/blog/2014/12/23/belated-bar-mitzvah-gift