This post is part of an informational series about ABLE accounts, which are available in Massachusetts as a result of the passage of the Autism Omnibus Act, in which MAC played a leading advocacy role. The content in this series is provided by Fidelity Investments via a collaboration between MAC and Fidelity.*
Celebrating one year of the Attainable Savings Plan
With the passage of the Achieving a Better Life Experience (ABLE) Act in 2014, Americans with disabilities now have the opportunity to save and invest in a tax-advantaged account for short and long-term disability related expenses, without risking their disability benefits. An ABLE account is a way to save that supplements, rather than replaces, your Medicaid and Supplemental Security Income (SSI) benefits. In May we celebrate the one year anniversary of the Massachusetts ABLE offering, The Attainable Savings Plan. Offered by MEFA and managed by Fidelity Investments, individuals can choose from various professionally managed investment portfolios, giving contributions a chance to grow tax-deferred and when used for qualified disability expenses are federal income tax-free. Learn more about Fidelity’s ABLE plan at www.Fidelity.com/Attainable.