Disabled Florida Residents Now Have A Way To Save Money Without Penalty
ABLE United is here to help relieve some of the stress so you can focus on more of the other parts of life. Being a parent of a disabled child is hard, very hard. There are so many moving paths and parts going on all at once that can be quite overwhelming.
One of the most stressful parts is money! Paying for the day to day expenses creates extreme hardships on parents. Whether they are needing to pay expenses today, tomorrow or five years from now, it is always on their mind, hovering that dark cloud over their heads.
Did you know there is now a way for you to save money for future expenses whether they are living or medical expenses? You can now keep yourself under the “umbrella” and you will not lose your benefits such as SSI.
As an added bonus friends and family can also contribute to help you save the money too!
Who Is ABLE United
ABLE United stands for Achieving A Better Life Experience – A program that allows disabled Florida residents to save up to $14,000 annually, tax-free; without affecting assistance programs such as SSI/SSDI and Medicaid.
Made possible after the passing of Stephen Beck JR; The ABLE Act was signed into law nationally December 19, 2014, and later in Florida May 2015.
The ABLE Act amended section 529 of the Internal Revenue Code that allows for tax-free savings accounts for people with qualified disabilities.
Who Can Eligible For An ABLE United Savings And Investment Account
Disabled Florida residents can open their account in fifteen minutes. The account is owned by the disabled person and authorized adult such as a parent, guardian or power of attorney can manage the account. Anyone can open the account for the disabled individual.
- Disability Must Have Been Diagnosed By Age 26 Years Old
- Florida Resident
- Qualified Disability
Why Your Disabled Child Should Have An ABLE United Savings Account
With seven different investment options, there are lots of ways to help secure money for the disabled child’s expenses. When you have a disabled child medical expenses will add up pretty quickly and you never know what their financial situation will be in the future.
When you have a disabled child medical expenses will add up pretty quickly and you never know what their financial situation will be in the future.
A medical bill, medical equipment, a nurses aid or even handicapped housing can easily surpass $5,000.
With an ABLE United account whenever those situations come up, you wouldn’t have to be scrambling to gather funds for things that your child needs.
Some Expenses That Parents Need To Handle For Their Disabled Kids Are
- Medical Equipment
- Assistant Aid and Therapists
- Housing and Accommodations
- Education and Training
And so many other things they come across in order to get their daily needs met. Having the burden and stress of money can make the daily care of a disabled child almost impossible…. Yet parents of disabled children get through the day, every day, without a break or end in sight.
These Children Have Heroic Parents That Go Through Things That Test Their Human Limits.
Some parents have some luck and help from family and friends and now those friends and family can help even more without the worry of that financial help negatively affecting the child’s benefits!
If ever you are looking for a gift idea, contributing to a disabled child’s ABLE United account is a huge gift.
A Few Other Great Reasons To Open An ABLE United Savings Account For A Disabled Child
- Tax Free
- Save Up To $14,000 Annually
- Use Funds Without Fees
- No Authorization Needed To Use Funds
Thank You, ABLE United for coming to our rescue to help ease the stress and worry of how we will be able and capable of taking care of the needs and expenses of our disabled children.