One of the main benefits of having an ABLE United Account is being able to save for Qualified Disability Expenses and invest for the future in a tax-advantaged Account. Earnings on the Account grow tax free as long as the funds are used for Qualified Disability Expenses.
Generally, funds in (or withdrawn from) an ABLE United Account are disregarded when determining Supplemental Security Income (SSI), Medicaid eligibility and other resource means-tested government benefit programs (SNAP, TANF, HUD Assistance, Section 8, etc.). For more information on having an ABLE United Account and government benefits, click here.
Other benefits include the option to have a prepaid card to use for qualified expenses, and the ability to have family and friends contribute to your account.
ABLE United is the state of Florida’s ABLE Program and is administered by Florida ABLE, Inc., a direct-support organization of the Florida Prepaid College Board. ABLE United offers a unique program designed to help Floridians with eligible disabilities save for qualified expenses and invest for the future in a tax-advantaged account ‒ without losing federal or state benefits (like SSI, SSDI, Medicaid, SNAP, TANF, HUD Assistance, Section 8, etc.).