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.*
Tax Advantaged Savings You Can Use for Your Disability Expenses
With the Achieving a Better Life Experience (ABLE) Act, saving and investing for disability expenses including housing, healthcare, and transportation, has been made easier. Americans with disabilities now have the opportunity to save and invest in a tax-advantaged account for short and long term expenses. An ABLE account is a smart way to save that supplements, rather than replaces, your Medicaid and SSI benefits. Individuals can contribute up to $14,000 annually for housing, healthcare, and any other qualified expenses, short and long-term – like first and last month’s rent.
Find out how an ABLE account could make saving simple at www.Fidelity.com/Attainable.