We are excited to share a valuable resource for our community: ABLEnow, a national, tax-advantaged savings program designed specifically for people with disabilities.
What is ABLEnow?
ABLEnow accounts allow people to save and invest money without jeopardizing their eligibility for certain means-tested benefits like Medicaid and Supplemental Security Income (SSI).
Key Features:
- Tax-Advantaged Savings: Earnings grow free from federal taxes, and withdrawals for qualified disability expenses are tax-free.
- Broad Eligibility: People who developed a qualifying disability before age 26 may be eligible.
- Flexible Use: Funds can be used for various expenses, including housing, education, transportation, and healthcare.
- Easy Access: Manage your account online and use the ABLEnow debit card for qualified expenses.
To determine eligibility and learn more about how ABLEnow can support financial independence, visit ABLEnow Introduction | Blog | ABLEnow to watch an introductory video.