Fragile X Nebraska ENABLE logo

The National Fragile X Foundation is pleased to announce that the state of Nebraska has now launched its version of an Achieving A Better Life Experience (ABLE) account. Known as the “ENABLE” national program, it offers enrollment to qualified individuals with disabilities both in Nebraska and throughout the country.

As with the recently launched Ohio and Tennessee plans, ENABLE allows qualified individuals with disabilities to save up to $14,000 a year in an ABLE account, without jeopardizing their eligibility for federally-funded, means-tested benefits, such as Social Security and Medicaid. The funds in the account can be used for disability-related expenses that assist the beneficiary in increasing and/or maintaining his or her health, independence or quality of life.

Millions of individuals with disabilities and their families are often relegated to a life of poverty as a result of not being allowed to build even the most modest levels of resources. Individuals receiving supports through Social Security, Medicaid and other publicly-funded programs are often disqualified from those supports if they have more than $2000 worth of resources or assets. With the launch of nationwide ABLE programs, individuals with disabilities and their families will be able to take a step towards better securing their financial futures and offsetting the often significant financial challenges that can accompany living with a disability.

ENABLE focuses on efforts to ensure minimal costs associated with establishing and maintaining an ABLE account. An Annual Account fee of $45 will be assessed on a quarterly basis in the amount of $11.25 against the then-current account balance. Total annual asset-based fees range from 0.5 percent to 0.56 percent, depending on the investment selections held within an account. It is important to note that if the contributor is a resident of Nebraska, contributions made into an ENABLE program account are eligible to receive a state income tax deduction of up to $10,000 ($5000 if married filing separately).

ENABLE, ABLE TN, and the Ohio STABLE Account program are currently the only programs enrolling beneficiaries in the country, and they are doing so primarily via their online portals. However, we expect several other states, including, Florida (in-state only) and Utah, to launch their ABLE account programs in the very near future.

For more information on ENABLE and how to enroll, please visit enablesavings.com.