Missourians with disabilities can now save up to $100,000 without losing federal assistance. Missouri Treasurer Eric Schmitt says the new MO ABLE (Missouri Achieving a Better Life Experience) program will allow disabled citizens to save with a new tax-free savings account similar to the state’s a college-savings plan. Schmitt says the program makes saving for procedures and necessary purchases easier. Contributions to savings accounts are tax-deductible.
Those interested in applying for a MO ABLE account can do so at moable.com.