People with disabilities | St. Louis Public Radio

People with disabilities

Missouri Treasurer Eric Schmitt announced April 24 as the start date for the MO ABLE program, which creates savings accounts for people living with disabilities.
MO ABLE | Facebook

A Missouri program that sets up savings accounts for individuals living with disabilities or their families begins Monday.

The Missourians Achieving a Better Life Experience, or MO ABLE, accounts can be used to pay for qualified expenses related to living with disabilities and special needs. People can contribute up to $14,000 a year, and those who do get a tax deduction of up to $8,000, or $16,000 if married and filing jointly. Earnings in the savings accounts also are not subject to federal income tax.