Happy first anniversary to ABLE United!!!!! Here’s what you need to know:
The Achieving a Better Life Experience (ABLE) Act authorizes states to create tax-free savings accounts for individuals with disabilities. Florida is one of the first states to launch.
Do you or your child qualify for SSI or SSDI and live in Florida? This brand new program might help ease the financial burden that comes with special needs and disabilities.
I used the Eligibility Wizard and quickly learned Princess likely qualifies for an account because of her PTSD diagnosis. This means access to help ensure a brighter, more secure future as she grows into adulthood (something that is occurring way too quickly!).
What is ABLE United?
ABLE United allows people with disabilities to save for better life experiences.
Like a Roth IRA or a 529 college savings plan, an ABLE United account is a tax-free savings account that helps individuals with disabilities save for the future. The individual owns the account, but an authorized person may establish and help oversee the account.
After years of advocating, negotiating, and compromising, the Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act was passed into law. The ABLE Act now allows for the creation of savings and investment accounts for people with disabilities without negatively impacting federal benefits. Florida is among the first states to implement the law, which created the ABLE United program.
ABLE United will allow Floridians with disabilities to save like never before – by receiving tax incentives to save for future expenses and building assets without risk of losing federal benefits such as SSI and Medicaid. Funds in an ABLE account can be used, tax-free, for living expenses such as housing, education, and health and wellness services.
ABLE United advantages:
- Save tax-free for future expenses
- Save while maintaining federal benefits
- Save on fees – ABLE United offers the best value for Florida residents
Advocates and family members united more than a decade ago to create a grassroots movement that resulted in one of the most important pieces of legislation for the disability community in years. Now, we can unite for all to achieve a better life experience!
Pop over to the ABLE website to find out more info. This is a great program to help ease the mind of Floridians with disabilities and their loved ones.
Happy birthday to this great program! Congrats on the first year of helping people have better futures!