New savings program for Alabama residents with disabilities launching soon
MONTGOMERY, Ala. (WSFA) - Alabama is launching a new savings program to help people with disabilities. It allows people with disabilities to save without jeopardizing access to public funds.
James Tucker, director of the Alabama Disabilities Advocacy Program, says it improves on the Enable Savings Plan Alabama that was launched in 2017. Before, people with disabilities could only save up to $2,000. Anything over could affect their existing benefits.
“So you can’t have more than $2,000 in savings or you can’t get a benefit,” Tucker said.
The new program is called the Alabama Able Savings plan. It will include enhanced features like a gifting page where family and friends can donate to the account, lower fees, a prepaid debit card, and you’ll be able to open accounts online.
“I think it just brings this particular program more in line with what I would call the broader or general consumer experience,” Tucker said.
The new savings program is expected to launch sometime next month.
Copyright 2021 WSFA 12 News. All rights reserved.