Treasurer Don Stenberg says the ENable savings plan is similar to a 529 college savings account in that the account earnings are tax-free if they’re used for a qualified disability expense.
“If you need special transportation that you couldn’t otherwise have; basically, any medical device you need related to the disability; changes or adjustments to your housing situation so that you could live independently, perhaps, with certain modifications to your living structure,” Stenberg tells Nebraska Radio Network.
He says accounts with up to $100,000 are not counted against Supplemental Security Income or Medicaid.
“It’s a brand new program, so no state has done it before,” Stenberg says. “We will have a very aggressive marketing program, just to make people aware that this is a tool, if you have a loved one who has a disability, that this program is something you should look at and see if it would be appropriate for your situation.”
You can find the ENable Nebraska website HERE.