Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Ohio Is First State To Introduce Savings And Investment Accounts For The Disabled

wksu.org

Ohio is the first state in the nation to introduce tax-advantaged savings and investment accounts for eligible children and adults with disabilities. STABLE Accounts allow individuals to accumulate money for college, retirement or other purposes without losing eligibility for Medicaid, SSI and or SSDI assistance. The accounts were created under the federal Achieving a Better Life Experience Act of 2014. One of the Ohioans who plans to participate is Jenny Cunningham.

The Ohio Treasurer's office is administering the program.  The accounts have normal saving and withdrawal features, while also allowing for long-term investments. They are not subject to federal income taxes as long as the money is spent on qualified disability expenses. The initial minimum contribution is 50 dollars. Set-up is free.

The Statehouse News Bureau was founded in 1980 to provide educational, comprehensive coverage of legislation, elections, issues and other activities surrounding the Statehouse to Ohio's public radio and television stations. To this day, the Bureau remains the only broadcast outlet dedicated to in-depth coverage of state government news and topics of statewide interest. The Bureau is funded througheTech Ohio, and is managed by ideastream. The reporters at the Bureau follow the concerns of the citizens and voters of Ohio, as well as the actions of the Governor, the Ohio General Assembly, the Ohio Supreme Court, and other elected officials. We strive to cover statehouse news, government issues, Ohio politics, and concerns of business, culture and the arts with balance and fairness, and work to present diverse voices and points of view from the Statehouse and throughout Ohio. The three award-winning journalists at the bureau have more than 60 combined years of radio and television experience. They can be heard on National Public Radio and are regular contributors to Morning Edition, All Things Considered and Marketplace. Every weekday, the Statehouse News Bureau produces in-depth news reports forOhio's public radio stations. Those stories are also available on this website, either on the front page or in our archives. Weekly, the Statehouse News Bureau produces a television show from our studios in the Statehouse. The State of Ohio is an unique blend of news, interviews, talk and analysis, and is broadcast on Ohio's public television stations. The Statehouse News Bureau also produces special programming throughout the year, including the Governor's annual State of the State address to the Ohio General Assembly and a five-part year-end review.