ABLE Accounts
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New state-level tax-advantaged savings plans aim to fix a longstanding problem: that disabled Americans are more likely to live in poverty and less likely to save for retirement than others.
The programs, new in 2016 but made possible by the 2014 ABLE Act, allow anyone diagnosed with a disability before age 26 to save up to $14,000 a year without losing out on Medicaid and Supplemental Security Income benefits. Michigan, Nebraska, Ohio, and Tennessee offer plans that are available nationally.