Special needs planning for the future has unique challenges
There is one common concern that causes great anxiety and sleepless nights for parents of children with disabilities. It’s the unstoppable future. Who will care for our children? Where will they live? What will their lives be like when we’re no longer around?
Future planning was never easy for members of the disability community. If individuals and parents of children with disabilities want to keep their Medicaid, Social Security benefits or other disability services, they cannot have savings that exceed $2,000 in cash value. Our choices were limited to either giving up our benefits or the opportunity to save and plan for the future.
Future planning was never easy for members of the disability community. If individuals and parents of children with disabilities want to keep their Medicaid, Social Security benefits or other disability services, they cannot have savings that exceed $2,000 in cash value. Our choices were limited to either giving up our benefits or the opportunity to save and plan for the future.
What is the ABLE Act?
In 2014, the ABLE (Achieving a Better Life Experience) Act was passed so each state can encourage and assist individuals and families of children with disabilities the opportunity to save and plan for the future without losing their government benefits.
What is ABLE United?
On July 1, 2016, Able United launched a program that gives Florida’s individuals and parents of children with disabilities an opportunity to save and plan for the future without having to give up their benefits. Opening a tax-free savings and investment account has never been easier! Individuals and parents can take charge of the future planning process by choosing their savings and investment options.
How do I know if my child or I am eligible?
To meet the programs eligibility requirements, you or your child with a disability must:
- Be a Florida resident
- Meet the disability requirements for Supplemental Security Income or Social Security Disability Insurance.
- The onset of the disability must have occurred before the individuals 26th Birthday.
How do I open an ABLE United account?
The ABLE United program has an easy electronic-application process that takes about 15 minutes! I think I opened up my son’s account in less time than that! No attorney or supporting documentation was needed, I did this myself – it was that easy. In fact, opening up an account now will mean no fees until July 1, 2017. After that, your fee’s will be less than a cup of coffee - $2 a month! I suggest reading the Able United Quick Start Guide, this gives you step-by-step instructions on what to do and it’s truly easy to follow! Individuals and families with children with disabilities can now plan for the future with an affordable, easy online process. It is a new day with exciting possibilities for Floridians with disabilities.
Please note that although this post is sponsored by ABLE United through a Bloggin' Mama's campaign, all opinions are my own.
Please note that although this post is sponsored by ABLE United through a Bloggin' Mama's campaign, all opinions are my own.
RSS Feed