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Senate committee backs bill to let Idaho join multistate ABLE account consortium
Summary
The Senate Health and Welfare Committee voted to send House Bill 26 to the floor with a due-pass recommendation after testimony that joining a multistate ABLE consortium would lower fees for Idahoans with disabilities and allow state-directed outreach; bill includes an unpaid advisory council and a Medicaid
State Treasurer Julie Ellsworth told the Senate Health and Welfare Committee on the floor of a hearing that House Bill 26 would allow Idaho to offer ABLE savings accounts to residents by joining a multistate consortium rather than building a stand-alone program.
Ellsworth said Idaho law recognized ABLE accounts in 2017 but the state did not create its own program at that time because of start-up costs. “By joining a consortium ... it will take it down to 19 to 33% basis points,” Ellsworth said, describing that as a reduction from higher fees people currently pay when they use plans in other states.
The nut graf: supporters told the committee that an Idaho-based ABLE program run through a vetted consortium would reduce account fees, allow the state to conduct outreach and…
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