INvestABLE Indiana Giving Those with Disabilities A Way To Save Money

(Indiana Statehouse Newsroom) - Hoosiers with disabilities now have a way to save money without fear of losing benefits.

On Thursday, Indiana State Treasurer, Kelly Mitchell announced INvestABLE Indiana. "It's going to allow people with disabilities to save for things that they haven't been able to save for, for a car, a house, maybe just adaptive technology," Mitchell said.

Prior to this, people with disabilities who saved more than $2,000 could lose government benefits. Now, they can use the plan to save $14,000 a year, and keep $100,000 in the account.

In order to qualify, a person must have the onset of disability before the age of 26. They must also be receiving Social Security benefits.

Carole Guess was at Thursday's announcement. Her son, Evan has down syndrome. She said they can't wait to take advantage of this new plan.

"It's just another tool in our toolbox," Guess said. "This is something else that we want to take advantage of. We fought hard to get it. We want to make sure that we take advantage of it as parents."

The plan started Thursday, but Mitchell will travel the state next month to let people know about it. She'll visit Evansville at the ARC on August 11th.

To learn more about the program, click here.

(This story was originally published July 27, 2017)


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