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Kentucky STABLE Accounts

Kentucky STABLE [link]

These accounts take about 15 minutes to set up and allow you to save for your child’s future or for your own future without losing benefits as a person with a disability.

“A STABLE Account is an investment account available to eligible individuals with disabilities. STABLE Accounts are made possible by the federal Achieving a Better Life Experience (“ABLE”) Act. STABLE Accounts allow individuals with disabilities to save and invest money without losing eligibility for certain public benefits programs, like Medicaid or SSI. Earnings in your STABLE Account are not subject to federal income tax, so long as you spend them on “Qualified Disability Expenses.”

STABLE accounts have some similar features to normal bank accounts, but they are not checking or savings accounts. STABLE Accounts are investment accounts, similar to 529 college savings accounts or 401(k) retirement accounts. When you deposit money into your STABLE Account, your money will be invested in different options that you choose. While you can still withdraw and spend your money whenever you need it, STABLE Accounts also allow you to grow your money and to save long-term for disability expenses. A STABLE Account is an investment account available to eligible individuals with disabilities. STABLE Accounts are made possible by the federal Achieving a Better Life Experience (“ABLE”) Act. STABLE Accounts allow individuals with disabilities to save and invest money without losing eligibility for certain public benefits programs, like Medicaid or SSI. Earnings in your STABLE Account are not subject to federal income tax, so long as you spend them on “Qualified Disability Expenses.”

STABLE Kentucky

Other resources about ABLE accounts:

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HDI Transportation Initiative (with modules)

Visit the Transportation Initiative website [link]

The Transportation Initiative is a project of UK’s Human Development Institute and is funded through the support of the Commonwealth Council on Developmental Disabilities. The Transportation Initiative seeks to provide comprehensive information and education on transportation options.

This initiative also includes modules on different types of transportation options, such as Rideshare and ADA Paratransit.

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KentuckyWorks: SSI 101 Video (The Truth About SSI and Working)

This video covers how youth with disabilities can work and keep their benefits. Created by Jeff White and Carolyn Wheeler.

Helpful links from video above:

More helpful resources:

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KentuckyWorks Module—Benefits 101: A Guided Study of Your Own Situation

Benefits 101: A Guided Study of Your Own Situation [Take course for credit.]

This one hour training is an overview of how earned income may affect eligibility for an entitlement to social security disability benefits and supplemental security income.

Course Objectives

  • Clarify the facts about the impact of work upon disability benefits and supplemental security income.
  • Provide you with the basic knowledge to make an informed decision about how obtaining employment may affect your financial situation.