With a change taking effect this year, individuals with disabilities can save more money than ever before without losing out on Social Security, Medicaid and other government benefits.

The Internal Revenue Service is reminding people with disabilities who are employed that for the first time they can deposit extra money into their ABLE accounts.

Annual contributions to ABLE accounts are currently capped at $15,000. However, under a law passed late last year, people with disabilities who work can now accrue at least some of their wages as well.

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For 2018, those living in the continental United States can deposit an additional $12,140 in income, the IRS said in a notice this month. That means that workers with disabilities can potentially save $27,140 in an ABLE account this year.

The allowable extra savings rises to $13,960 for those living in Hawaii and $15,180 for Alaska residents, officials said.

In addition, the IRS indicated that workers with disabilities who have ABLE accounts can now qualify for a Saver’s Credit, which can reduce their federal tax bill.

Aside from the new provisions for those who are employed, the IRS said it is now possible to roll over money from traditional 529 college savings plans into ABLE accounts. This change is designed to help families that set up college savings plans before learning that their child had a disability.

ABLE accounts, which were established under a 2014 federal law, allow individuals with disabilities to accrue up to $100,000 without risking eligibility for Social Security and other government benefits. Medicaid can be retained no matter how much money is in the accounts.

Individuals must have disabilities that onset prior to age 26 to qualify.

At present, 39 states offer ABLE programs, many of which are open to people with disabilities nationwide.

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