West Virginia State Treasurer Launches WVABLE Savings Program For Individuals With Disabilities

On February 9, 2018, the West Virginia State Treasurer launched the West Virginia Achieving a Better Life Experience (WVABLE) program, which allows individuals with disabilities to save for their future long-term care needs without losing eligibility for public benefits. The state anticipates first year enrollment of up to 300 people. With a WVABLE account, these individuals (or their families) can deposit up to $15,000 per year, and if employed, an additional $12,060 of income for a total of $27,060 into the account with earnings accumulating tax free. The account can be used only for qualified expenses . . .