ABLE accounts are a new option.
A person with an ABLE account can earn tax-free interest on contributions of up to $15,000 per year - and up to $100,000 total.
This money can be used for disability-related expenses without affecting government benefits.
Learn more by clicking the box below:
The Achieving a Better Life Experience (ABLE) Act is a new law that lets you set up an ABLE Account.
You can put up to $15,000 a year into this account and earn tax-free interest
This money will not affect government benefits like SSI and MassHealth (up to a limit of $100,000)
ABLE accounts are only for people who developed their disability before age 26
To learn more about ABLE Accounts in Massachusetts, visit:
Source: Greene (2015)
Source: Greene (2015), State of Ohio Treasurer's Office (2016)