Delaware’s Achieving a Better Life Experience or ABLE plan – DEPENDABLE - is getting funding from the state’s Department of Health and Social Services.
DHSS is giving the DEPENDABLE plan $20,000 to boost outreach initiatives.
ABLE allows persons and families living with disabilities to open tax advantaged savings and investment accounts.
The accounts help save for disability-related expenses while also keeping eligibility for government means-tested benefits like SSI and Medicaid.
State Treasurer Colleen Davis says the funding will mainly go to get the word out about the program.
"That's really the entire goal is to help to support our outreach efforts. It's really about educating individuals and raising awareness across the entire community, not only for individuals that are currently enrolled, but to help to expand that enrollment," said Davis.
That’s important because Financial Health Network research shows 93% of people with disabilities are unfamiliar with the ABLE program.
"ABLE accounts actually make it so that individuals and families can save for typically a pretty unpredictable future, for their children and loved ones who are facing lifelong disabilities," said Davis.
The ABLE Act was signed into law 10 years ago.