ABLE United announced today that it has reduced its $2.50 monthly account fee to zero for both current and future enrollees. This is all part of ABLE United’s efforts to be the low cost leader of ABLE accounts for Florida residents. All the same great services and investment managers, including Vanguard and Blackrock, remain.
This exciting news makes opening an ABLE United account more affordable than ever. With no application fee and no monthly account fee, there’s even more incentive to start saving!
ABLE United, Florida’s authorized ABLE program, was made possible by the passing of the Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act, and allows individuals with disabilities to save up to $16,000 annually without affecting benefits like Supplemental Security Income and Medicaid. Funds grow tax free and can be used for a wide range of qualified expenses, including housing, medical services, education, transportation, and even basic living expenses.
Florida was one of the first states in the nation to launch a qualified ABLE program, and in just over one year, more than 1,300 Floridians with disabilities have opened an account and started to save for their better life experience. The program now has more than $5 million in combined investments from participants.