The new program will help individuals with disabilities save for their future.

West Virginia State Treasurer John Perdue held an educational program today at Job Squad in Bridgeport for those interested in the new West Virginia Achieving a Better Life Experience (WVABLE) program. Launched in February of this year, WVABLE provides people with disabilities an opportunity to save and invest without jeopardizing needs-based public benefits.

“I’m excited this type of savings program is now available to those who need it most here in West Virginia,” said Treasurer Perdue. “This is an important step toward empowering more individuals in our state to plan for their financial future.”

WVABLE helps individuals with disabilities put aside money for qualified expenses, such as rent, transportation, education and training. Individuals may save up to $15,000 per year in a WVABLE account, with earnings accumulating tax-free. Individuals must have developed the disability before the age of 26 to qualify.

Prior to passage of the ABLE Act, individuals receiving government benefits were restricted in the amount of money they could save or invest without losing public benefits, such as Supplemental Security Income (SSI) or Medicaid. Before, financial resources in excess of $2,000 in savings could result in the loss of benefits.

A WVABLE account will come with a loadable debit card and have features similar to a checking account, but it is also an investment account similar to a 529 college savings account or 401(k) retirement fund.

WVABLE is administered by the West Virginia State Treasurer’s Office through a partnership with the Ohio Treasurer’s Office STABLE program.

For more information, or to sign up for an account, log onto WVABLE.com.