The Missouri Treasurer Scott Fitzpatrick is encouraging Missouri businesses to make it easier for employees with disabilities to save by adding direct deposit opportunities for MO ABLE accounts.
Launched in 2017, MO ABLE allows individuals with disabilities and their families to save up to $15,000 per year, tax-free, without losing federal benefits like Medicaid and SSI.
“I am calling on Missouri’s business owners to be leaders in increasing inclusion and opportunity for Missourians with disabilities,” Treasurer Fitzpatrick said in a press release. “Adding direct deposit for MO ABLE accounts is a small thing business owners across the state can do that can have a big impact. MO ABLE enables Missourians with disabilities to save money tax-free without losing access to critical federal benefits like Medicaid and SSI, finally making it possible to have a job and work towards financial independence. This is a huge step forward—but there is still work to be done.”
MO ABLE accounts are available to Missourians with disabilities. These accounts offer a tax-free savings plan for disability-related expenses as well as a way to save and invest without losing federal needs-based benefits.
Our Chamber recognizes the important contributions of Missourians with disabilities to our workforce. We are proud to support MO ABLE and encourage our local business leaders to help make it easier for those with disabilities, and their families, to save for the future.
Later this month, Treasurer Fitzpatrick and the Missouri Chamber will co-host a webinar for members about MO ABLE and the advantages of direct deposit. Check the MO ABLE website for more information.