April in Wisconsin is “ABLE to Save” month.
The campaign aims to educate people about the ABLE National Resource Center and Achieving a Better Life Experience accounts.
An ABLE account is a savings and investment account for those with a disability that began before age 46. It helps them save money for disability expenses without affecting eligibility for most federal benefit programs such as supplemental security income and Medicaid.
“Every Wisconsinite should have the financial tools, resources and information necessary to plan for their futures and improve their overall quality of life,” Gov. Tony Evers said in a statement. “ABLE accounts play a critical role in empowering folks with disabilities to establish long-term financial goals and build wealth by allowing them to save without fear of jeopardizing much needed benefits.”
Earnings on the investments in an ABLE account grow tax free and are never taxed when used for qualified disability expenses.
