Disclaimer:The following blog-post is sponsored by ABLE United and Bloggin Mamas. All opinions are my own.
ABLE United is celebrating its first anniversary in July. With more than 1,000 account holders, individuals with disabilities are utilizing ABLE United accounts to save for a better life experience. With the 1 year anniversary, ABLE United is also announcing that fees will continue to be waived until July 1, 2018.
ABLE United is allowing Floridians with disabilities to save private funds to support health, independence and quality of life. It allows individuals to save up to $14,000 annually without affecting benefits like Supplemental Security Income (SSI) and Medicaid while the funds in the account grow tax-free. Funds can be used on qualified expenses covering a wide range of categories including housing, transportation, and basic living expenses.
ABLE United is different from other savings and investment options available for individuals with disabilities. Benefits include:
- The funds saved in the account generally will not affect government benefits like Medicaid and Supplemental Security Income (SSI).
- The ability to use funds from the account to pay for a wide variety of expenses tax-free.
- The account is owned by the individual with the disability, though an authorized person may establish and help oversee the account.
Anyone can contribute to the account, allowing the individual to save with the help of family and friends.
To be eligible to open an ABLE United account, the individual must meet the disability and severity requirements outlined by the Social Security Administration, have experienced the onset of blindness or the disability before age 26, and be a Florida resident.
For more information about ABLE United or to open an ABLE United account,
please visit ableunited.com.