Mother and daughter playing in a fieldAt MEFA, we provide expert guidance and smart financial solutions to help families reach their goals. That includes our work as state sponsor of the Attainable Savings PlanSM, the Massachusetts program created to help individuals with disabilities and their families save for disability-related expenses. The balance in an Attainable account doesn’t affect eligibility for federal means-tested benefits, such as Medicaid or SSI (up to accounts of $100,000), which allows participants to continue to receive the services they need, while saving for additional costs. It’s a powerful savings plan, and we’re pleased to announce several recent modifications that encourage even wider access to the program.

Effective immediately, three important changes have been made to Attainable:

  • The elimination of the previously required $50 minimum balance to open an Attainable account
  • The cancellation of the $30 annual account fee
  • The removal of the wire transfer fee for moving funds out of an Attainable account

Our goal in making the changes above is simple: to eliminate financial barriers for individuals with disabilities and their families to benefit from this valuable savings opportunity. There’s no reason that every qualified individual who wants an Attainable account should not have one.

Attainable accounts are powerful. The average balance for an Attainable account is higher than that of any other similar program in the country, which demonstrates that participants are saving often and significantly. And now, even more individuals will benefit from the opportunity to secure their own financial freedom. MEFA’s mission has always been to support the independence, growth, and success of the families we serve. We hope, with these changes, we’re continuing to do just that.