Hi everyone. Jonathan here from mefa and I wanna take a minute to tell you about Attainable the Massachusetts Able Savings Plan. This is a tax exempt plan specifically designed for individuals with disabilities. Anyone can open an attainable account if that person has a significant disability. That occurred before their 46th birthday.

If the account owner is a minor or someone unable to manage the account themselves, you can set up the attainable account with a person with signature authority or PSA to help manage it for the account owner Earnings, the account grow federal income tax free if used for qualified disability expenses.

There are a number of different investment options. The investments are managed by Fidelity Investments, which means that if you’re not sure how to invest, there are experts available to help you. Once you’re ready to use the money you’ve invested, you can spend the funds on qualified disability expenses, including education, housing, transportation, employment, training, and support assistive technology.

Personal support services and health and basic living expenses such as food and clothing. Perhaps most importantly, if you receive SSI benefits, you can save up to $100,000 in an attainable account without impacting these benefits. Also, money and an attainable account does not impact Medicaid benefits.

So if you think that you or someone in your life could benefit from saving with the attainable savings plan, visit mifa.org/attainable. If you have any questions, call us at eight hundred four four nine mifa or email us at college [email protected].