ABLE accounts are a savings option for people with disabilities.
The Achieving a Better Life Experience (ABLE) Act is the law that lets you set up an ABLE Account.
You can put up to $16,000 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.
- About ABLE Accounts: National ABLE Resource Center website
- About creating an ABLE account in Massachusetts: Attainable Savings Plan website .
Source: National ABLE Resource Center