(Long Island, NY) Assemblyman Michael Montesano (R,C,I-Glen Head) joined many of his Assembly colleagues in passing legislation to establish the New York Achieving A Better Life Experience (ABLE) Act. The bill (A.7767B) authorizes New York State to establish ABLE savings accounts for individuals with disabilities and their families in order to cultivate independence, improve quality of life and ensure efficient health care.
“Legislation such as the New York ABLE Act plays a critical role in protecting and improving the well-being of vulnerable members of our communities,” said Montesano. “The savings accounts established through this bill would be tax free and would not prevent eligible participants from receiving Medicaid coverage. This will greatly benefit individuals by providing financial support needed for them to pursue a successful and independent lifestyle. I am very pleased that my colleagues in both legislative houses recognized the importance of this legislation, and hope that the governor does as well.”
In 2014, legislation authorizing states to participate in ABLE savings was signed into law at the federal level.
