The state of Alabama is working to raise awareness about Achieving a Better Life Experience (ABLE) accounts, which is a new financial savings tool for individuals with disabilities the state launched in February.
Designed to be a tax-free vehicle for saving for certain Alabamians who have disability-related expenses, ABLE accounts will assist individuals and families to save private funds without jeopardizing their public benefits like Medicaid and Supplemental Security Income (SSI).
Despite their widespread availability, lack of awareness and misinformation about ABLE accounts is preventing millions of people from taking advantage of this new savings tool. Which is why Alabama State Treasurer Young Boozer announced the state’s participation in #ABLEtoSave Month, an awareness month proclaimed by Governor Kay Ivey.
“It is an honor to join disability organizations and ABLE programs across the country in partnership with the ABLE National Resource Center to promote such a worthy cause,” said Boozer. “The ABLE Act has provided new and exciting opportunities for the disability community and we are proud to celebrate the financial independence they have gained as a result.”
Alabama’s participation in #ABLEtoSave Month is part of a nationwide campaign, spearheaded by the ABLE National Resource Center (ANRC), that aims to educate individuals with disabilities, their families, financial institutions and the general public about ABLE accounts and the financial independence they provide to the disability community.
“In just six months, we have already witnessed firsthand the remarkable ways that Enable Alabama is positively impacting the lives of our account owners,” said Deborah Goodkin, Managing Director, College Savings Plans, First National Bank of Omaha. “This month is a valuable opportunity for us share the resources offered by Enable Alabama and connect with members of our community in spreading the word about the ABLE Act and how it has paved the way for a brighter future for individuals with disabilities.”