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.*
Introducing A Tax-Smart Way to Save for Disability Expenses
With the passage of the Achieving a Better Life Experience (ABLE) Act, 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 smart way to save that supplements, rather than replaces, your Medicaid and Supplemental Security Income (SSI) benefits. With the Attainable Savings Plan, the ABLE 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.