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Article by Michelle Diament, Disability Scoop

Recent moves by federal lawmakers are set to enhance and expand access to special accounts that allow people with disabilities to save money without jeopardizing Medicaid and other government benefits.

Tucked inside President Donald Trump’s signature “One Big Beautiful Bill Act,” which passed in July, are several provisions affecting ABLE accounts.

Established under a 2014 federal law, the accounts offer people with disabilities the opportunity to save up to $100,000 without sacrificing eligibility for Social Security and other government benefits. Medicaid can be retained no matter how much is in the accounts.

Money saved in the accounts can be used to pay for qualified disability expenses including education, health care, transportation and housing. Interest earned is tax-free.

A handful of rules governing how the accounts are used were set to expire at the end of this year, but the recent legislation now makes them permanent. That includes the option for ABLE account holders who are employed to save extra money in their accounts if they don’t participate in an employer-sponsored retirement plan as well as the ability to roll over funds from a traditional 529 college savings plan into an ABLE account. That provision is designed to help families that set up college savings plans before knowing their child had a disability.

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Social Security Transitions to Electronic Payments

Press Release from Social Security Administration

Effective September 30, in accordance with Executive Order 14247, Modernizing Payments To and From America’s Bank Account, federal benefit payments will primarily be issued electronically, with paper checks being phased out in most cases. To prevent any disruption in payments, we are reaching out to beneficiaries who currently receive paper checks and encouraging them to switch to electronic payment options before the deadline (see Paper Check Insert). Additionally, we are no longer offering a temporary check option when processing initial claims. Beneficiaries who request an exemption from the electronic payment requirement must file a waiver with the U.S. Treasury by calling 1-800-967-5042.

Electronic payments offer significant advantages over paper checks, including faster access to funds, increased security, and greater convenience. Payments are deposited directly into a bank account or onto a prepaid debit card, eliminating the need to wait for mail delivery or visit a bank.

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