What are you thankful for this holiday season? Here at ABLE United, we’re thankful for you! Even more, we’re thankful for your trust. Here’s why.
“Saving money” hasn’t always been easy for the disability community. Before the launch of ABLE United and programs like it across the United States, there was very little incentive for individuals with disabilities to save. On the contrary, there was so much to lose! An individual collecting Supplemental Security Income (SSI) or Medicaid could put those federal benefits at risk if they attempted to save money — specifically, anything over $2,000.
Fast forward to 2014, and passage of the Achieving a Better Life Experience (ABLE) Act allowing states to create their own ABLE programs. Some disability advocates called it a “game changer,” the most significant piece of legislation for individuals with disabilities since the Americans with Disabilities Act (ADA) of 1990.
Now, Floridians can save up to $15,000 a year in an ABLE United account and not risk losing eligibility for their disability benefits. The funds can be used on any number of qualified expenses, such as housing, healthcare, education, transportation, employment training, and other basic living expenses.
There is no cost to open an account and no monthly fee to maintain it. Furthermore, all earnings grow tax free.
The ability to save in this manner is brand new to the disability community, which is why we’re especially grateful for our more than 1,400 account holders who have contributed more than $5 million to their accounts.
In fact, you can read about how some current account holders are already making their savings work for them here.
From our team to you, thank you.