As we near the end of the year, it’s important to take time and reflect on all that has been accomplished and set the tone for what’s to come.
We have provided more than 4,000 Floridians with a way to save without affecting public benefits like Supplemental Security Income (SSI) and Medicaid – an opportunity that was not available before ABLE United launched in July 2016. During 2019, we took this opportunity even further by enhancing many ABLE account features.
Introduction of Account Enhancements
In March, ABLE United transitioned its Customer Service and Records management to Sumday Administration, LLC, a wholly-owned subsidiary of the Bank of New York (BNY) Mellon. This transition allowed for additional program enhancements including an FDIC-insured savings fund option, live chat with customer service and an enhanced gifting portal to allow others to support account holders in reaching their savings goals.
Additionally, the ABLE to Work integration was added, which allows a beneficiary who is working and not contributing to a retirement plan the ability to contribute more than the $16,000 annual contribution limit.
Removal of Medicaid Recovery
Our most significant achievement was advocating the Florida Legislature to pass HB 6047, which was signed by Governor DeSantis in June. This bill eliminates Medicaid recovery from ABLE United accounts and clarifies that all outstanding funds in an ABLE United account, after Qualified Disability Expenses are paid, go to the beneficiary’s estate. Now, ABLE United account owners will no longer be treated differently than any other individual who receives Medicaid.
In addition to the significant account enhancements, we also celebrate you – our account holders.
Three years ago, we began the Faces of ABLE campaign to share the overwhelming number of inspiring stories we hear every day – this serves as a constant reminder to us about why we do what we do.
Thank you to this year’s Faces of ABLE who have openly shared their stories and how ABLE United is allowing them to truly Achieve a Better Life Experience:
March – Samantha
May – Natalie Jesselle
June – Sean
October – Samantha
It was a great year for ABLE United and our account holders – but we are even more excited for what 2020 holds!