More Nebraskans With Disabilities Can Now Take Advantage of Enable Savings Plan
Nebraska State Treasurer Joey Spellerberg is joining disability advocates to recognize National ABLE Savings Day on Friday, Aug. 14, and raise awareness about state-sponsored ABLE (Achieving a Better Life Experience) plans. ABLE plans offer tax-advantaged savings accounts to help people living with qualifying disabilities or medical conditions save for related expenses.
“We want more Nebraskans to know about our state-sponsored Enable Savings Plan, especially those who can benefit from its use,” Spellerberg said. “The disability community faces unique financial challenges, which is why my office is working to spread the word about this program and its expanded eligibility.”
Administered by the Treasurer’s Office, Enable was launched in 2016 as one of the nation’s first state-sponsored ABLE plans. After 10 years, the plan has grown to 5,132 active accounts and roughly $67.9 million in assets.
Recent updates to Enable include:
- Expanded eligibility: Accounts are now available to individuals whose qualifying disability began prior to age 46, replacing the previous onset-age limit of 26. Individuals can enroll at any age.
- Additional protections: ABLE accounts empower eligible individuals to save for disability-related expenses without jeopardizing eligibility for public benefits. Under Nebraska’s new law (LB 1240), Enable assets are further protected from Medicaid estate recovery, providing even more confidence in the program.
- More options: To expand investment choices, Enable recently added an “aggressive” target-risk option.
- Lower contribution minimums: The State Treasurer’s Office is working to lower the minimum initial contribution from $50 to $25 and subsequent contribution minimums from $25 to $10. This change is expected to be implemented by the end of 2026.
Contributions to Enable may qualify for a Nebraska state income tax deduction of up to $10,000. Contributions can come from an individual’s earnings, as well as from family, friends, and other sources. Account earnings are tax-deferred, and withdrawals are tax-free if used for qualified disability-related expenses. The “Give to Enable” crowdfunding program allows businesses and non-profits to donate to the accounts of eligible individuals.
Visit EnableSavings.com for more information and easy-to-use online enrollment.
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About the State Treasurer’s Office: The Nebraska State Treasurer serves as the state’s chief financial officer and is responsible for the safekeeping and management of Nebraska’s public funds. The office administers the Nebraska Educational Savings Trust (NEST 529) and the Enable Savings Plan; returns unclaimed property; collects and disburses child support payments; promotes transparency in state spending; and advances financial literacy. Learn more at treasurer.nebraska.gov or follow the Nebraska State Treasurer’s Office on Facebook, LinkedIn, and X.
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