CMS Releases Guidance on ABLE Act Implications for State Medicaid Programs
September 7, 2017
The Centers for Medicare & Medicaid Services (CMS) today released long-awaited guidance to the states on the treatment of ABLE Accounts for purposes of Medicaid eligibility. The Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act of 2014 allows individuals with disabilities to establish tax-free savings accounts that do not count toward the asset limitations needs to remain eligible for Medicaid and other government supports. The guidance provides important clarity around eligibility to participate in a qualified ABLE program, treatment of funds in an ABLE Account, contributions to ABLE Accounts, distributions from ABLE Accounts, post-eligibility treatment of income, and transfers of ABLE Account funds to States and estate recovery.
Share on Facebook
The ABLE Alliance for Financial Empowerment applauds the Senate Finance Committee for their action earlier today in advancing two critical ABLE Improv...