Morning Briefing
Summaries of health policy coverage from major news organizations
New Account Would Allow People With Disabilities To Save Money Without Losing Government Benefits
Justin Bainbridge is 27 and works two jobs, but he wasn't allowed to start saving money for his future until a few months ago. Bainbridge has Down syndrome, and like other people with disabilities who receive government benefits, he can't have more than $2,000 in savings. If he does, he would start to lose those much-needed benefits. But a new type of savings vehicle is giving Bainbridge, and others, a chance to save more cash. (Pisani, 2/1)
A new type of savings vehicle, known as an ABLE account, is allowing people with disabilities to save more money for the first time. That's because the accounts allow them to save without losing much-needed government benefits, such as Supplemental Security Income monthly payments or Medicaid health care. The accounts are run by states and are similar to 529 college savings plans. Here's more on how ABLE accounts work. (2/1)
