I can’t count the times I have wished I lived in Florida! Seriously, great weather, tons of things to do, and they even have ABLE United in Florida and man my son sure could benifit from an ABLE United acccount.
ABLE United Is Opening Doors For Disabled in Florida
The ABLE United account has opened doors for people living with disabilities. I’m so excited that ABLE United has taken steps to help those living with disablities offering the ABLE United account to residents of Florida.
What is an ABLE Account?
An ABLE account is a remarkable account for those who quality. If you or someone you know is disabled and currently receives Supplemental Security Income and Medicaid they likely are not able to have any savings account to help with expenses. Well, if they qualify they can now in the state of Florida! With an ABLE account customers can enjoy a tax free savings and investments account to help support qualified disability expenses for a person with disabilities and this even includes living expenses. It’s truly a game changer.
Who qualifies for an ABLE United account?
Well, there are currently three different eligibility criteria for a person to open an ABLE Account which are:
- Disability Severity Criteria – Must be blind or have a disability which meets the disability and severity requirements for either Social Security Disability Insurance or Supplement Security Income.
- Disability Onset – The start of the disability must have occurred before the person applying 26th Their current age is not considered when they go to open an ABLE account as long as the person is over the age of 18.
- Florida Resident
Swing by and check out the ABLE United Eligibility Wizard to help determine if you or a loved one meets the eligibility requirements for an ABLE United account by visiting their website at ABLEUnited.com.
How will I access the funds in my ABLE United Account?
It’s easy and can be withdrawn at any time for any reason using a check or electronic transfer. The money will need to be spent on qualified disability expenses which also include living expenses and not required to be medically necessary. Earnings on the money withdrawn is tax-free:
- Health
- Housing
- Education
- Legal Fees
- Transportation
- Financial Management
- Assistive Technology and Personal Support Services
- Employment Training and Support
- Funeral and Burial
- Oversight and Monitoring
- Other expenses approved by the Secretary of the U.S. Treasury
You do not need an approval to withdrawn money from your ABLE United Account. You can withdraw it at any time for any reason. Just remember that each year the ABLE United Program reports the total amount of distributions to the IRS and they may investigate your distributions to determine if they were Qualified Disability Expenses.
How much can I contribute and who can deposit to my ABLE account?
Anyone can contribute to an ABLE account on behalf of the individual and contributions can be made up to $14,000 a year, and they will not be allowed when the account reaches $418,000 or more.
It’s a qualified ABLE program that is currently offered in the state of Florida and is administer by Florida ABLE, Inc which was established in 1987 and is a direct support organization of the Florida Prepaid College Board. The company ONLY the most excellent account for those who qualify if you ask me!
How can I open an ABLE United Account?
Opening an ABLE United Account is super easy! Head over to ABLEUnited.com and complete the enrollment, which can be completed by the person enrolling or someone who has legal authority over the individual which would be someone like a parent or legal guardian.
ABLE United has made things as quick and easy as possible! I don’t know about you but I’m loving that they are giving individuals with disabilities options when it comes to saving money!
So let me know what you think about ABLE United and how it could help you or someone you know who is disabled in Florida by leaving a comment below.
This is a sponsored post writtein by myself on behalf of ABLE United. All opinions are my own.
