Ohio Creates STABLE Savings Accounts for People With Disabilities
Ten years after advocates began pushing for tax-advantaged savings accounts for people with disabilities, the first accounts are being opened.
Ohio is the first state to offer accounts allowing people with disabilities to save up to $14,000 per year without losing government benefits like Medicaid. Jenny Cunningham of Columbus was one of the first to open an account.
“Now, I and millions of persons with disabilities can save for our future. We can be independent and rely on ourselves.”
Congress passed the Achieving a Better Life Experience legislation in 2014 and Ohio lawmakers approved the state's program last year. The National Down Syndrome Society estimates 54 million people nationwide are eligible for accounts.