ABLE accounts are tax-advantaged accounts for individuals with disabilities that will allow them to have money invested and still be eligible for SSI, Medicaid and other public benefits. These accounts can be used for medical related costs for the individual including housing, transportation, personal assistance services and more.
The State of Utah is not currently offering an ABLE program, however federal legislation allows individuals to open accounts in other states that are accepting out of state residents. This will allow individuals to have an account that will meet their own personal financial and investment needs.
To find out more information about the ABLE program and how to apply for an ABLE account, please go to www.ablenrc.org.