Making WVABLE work for YOU!!

The rules have changed! WVABLE is a new savings and investment account program made possible by the federal Achieving a Better Life Experience Act of 2014 (ABLE). This life changing program allows many qualifying individuals with disabilities the ability to save and invest up to $15,000 per year, and up to $27,490 if employed, without losing government benefits such as Medicaid or SSI. Earnings grow tax free and can be spent at any time for qualified disability expenses.

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This session will cover the step by step process of enrolling in a WVABLE STABLE Account and provide tips on how to make the process as smooth as possible. We will also cover the most common methods of spending from the account and include a highlight of the STABLE Card, the program’s loadable Visa debit card.

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Living with a disability is expensive and financial planning is important to maintaining and achieving financial independence. This session will educate participants on how to create a financial plan based on their financial goals to pay for current and future expenses such as: medical, education, transportation, housing and other living expenses. Participants will learn how to incorporate WVABLE as a saving and budgeting tool in reaching their financial goals and increase financial independence.

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Choosing to live on Supplemental Security Income (SSI) is choosing to live a life in poverty. This presentation will explain the details on how having employment is always financially better when you are receiving SSI. Participants will learn how Social Security calculates countable income for SSI check reductions, how to apply work incentives to the reduction of countable income, how to report wages to SSA, how to initiate a Plan to Achieve Self Support (PASS), and how the WVABLE legislation/accounts work with SSI to increase financial independence.

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This session will focus on the importance of employment, productivity, earnings, and social valuation on mental well-being and belonging for individuals with disabilities. The presenters will also address how employment opportunities are created for people with disabilities across West Virginia. Participants will also learn how the additional income earnings gained from employment can be used to fund their WVABLE accounts and how increased earnings and savings increase the opportunity for financial independence and improve quality of life for individuals with disabilities.

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Everyone needs to prepare for the future. All individuals require more assistance and care as they age but this is especially true for individuals with a disability. There are several ways that an individual with a disability and their family can better prepare for the future. This session will look at Special Needs Trusts and ABLE accounts as two ways to prepare for future needs.

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Having a child with a disability does not come with an instruction booklet and it is important for parents and guardians to learn early on to start planning for their child’s future. It is also important for the professionals who guide them to have accurate information, relevant resources, and an optimistic outlook for the child’s future. The first portion of this session will focus on practical ways to support individuals with a disability and their parents/guardians, as well as factors that may prevent them from considering future planning. Participants will also learn about the Luke Stone Illumination Fund (LSIF), the first charitable organization of its kind, focused on recognizing the strength and beauty of the challenges overcome by people with disabilities. Through an essay contest, the LSIF Board of Directors selects a winner each year to receive a $1,000 award, made directly into the individuals WVABLE account. You will learn how to access additional information about the LSIF, our recent award recipients, and how you or someone you know can apply.

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During this panel discussion, participants will hear firsthand from parents and advocates that own and/or manage WVABLE accounts. The panelists have a lot to share including knowledge of how WVABLE became law. Participants will learn about the ease of making withdrawals including the use of the reloadable STABLE debit card to pay for qualified disability expenses. Panelists will also share the importance of future planning and how WVABLE is helping them reach their short term and long-term savings goals. Additionally, attendees will learn about the benefits of employment and how saving and investing a portion of those earnings in a WVABLE account can lead to developing independence, financial security and overall improved quality of life for the individual with a disability.

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