A new way for those with disabilities to save money in NJ
A new program from the State Department of Human Services will give disabled individuals the chance to save, tax-free, for a variety of expenses, including childcare, transportation and assistive technology.
ABLE stands for "Achieving a Better Life Experience."
"We really think that this is a great chance to help people with disabilities be able to thrive in their communities and get the resources and support that they need," Commissioner Carole Johnson said. "For far too long, people have really been limited in their ability to save, because their savings were counted against them when it came to some federal benefits. In particular, the thing that we hear with some frequency is concerns among people with disabilities about their ability to maintain their Medicaid benefits."
Johnson said those who are eligible are people who develop disabilities before the age of 26 and who meet the criteria for federal programs such as Social Security Disability Insurance.
They're "residents in New Jersey, who have disabilities make tremendous contributions to our state, and we are really happy to be able to open up this opportunity for them to continue to contribute to their communities," she said.
More info is available at savewithable.com/nj/home.
Joe Cutter is the afternoon news anchor on New Jersey 101.5.
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