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LINCOLN, Neb. (AP) - A new state savings program designed to help people with disabilities is set to launch next year.
State Treasurer Don Stenberg says that the Achieving a Better Life Experience program will be operational by summer 2016. First National Bank of Omaha will manage the program, which allows residents with certain disabilities to create tax-advantaged savings accounts.
Stenberg says the Nebraska ABLE program will be one of the first of its kind in the nation to become operational. The treasurer's office will oversee the program.
The program allows adults with intellectual disabilities and their families to save for medical, housing and educational needs. In past years, disabled adults could have lost Medicaid coverage and Social Security benefits if they accumulated more than $2,000 in assets.
© Associated Press
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