What ABLEnow Is And Why You Need It Now
This is a sponsored post written by me on behalf of ABLEnow. Please note that, as always, any personal opinions reflected in this post are my own and have not been influenced by the sponsor in any way.
Many parents try to plan and prepare for their child’s future. It’s not uncommon to find parents saving money in an Account for major expenses such as college educations, “once in a lifetime” trips, weddings, medical expenses (ie hearing aids) not covered by insurance, and many other reasons. We as parents want our children to have a good quality of life, no matter if they are a young child under our care or an adult. Unfortunately, saving money for a child with a disability has not been a possibility for a family like mine. You see, having too much in savings can impact the eligibility of people with disabilities in terms of important, much-needed benefits such as Medicaid and Supplemental Security Income (SSI). The introduction of Ablenow changes that.
What is ABLEnow?
ABLEnow was created in order to provide eligible individuals a savings and investment account that won’t interfere with most disability benefits. This program has come to be as a result of many years of hard work on the part of organizations such as The Arc and NDSS, as well as advocates and family members, addressing the concern that their loved ones would lose essential public benefits simply because someone wanted to help them have a decent quality of life. For the first time, eligible individuals can save and invest in a simple, affordable and tax-advantaged Ablenow Account without jeopardizing their eligibility for certain benefits like Medicaid and SSI.
ABLEnow empowers people with disabilities to have a better quality of life, including greater financial security. ABLEnow accounts can help cover a number of qualified disability expenses related to health, independence and quality of life. With the ability to have savings put aside for things like housing and living expenses, individuals will feel a greater sense of financial independence.
ABLEnow is one of the country’s leading ABLE programs. While the program is administered by the Commonwealth of Virginia, it is open for national enrollment. This is important to take note of, as not all states have an ABLE program in place yet. No worries! If ABLEnow sounds like it would be a fit for your family you can sign up for now as opposed to waiting for your own state to have a program in place. ABLEnow is growing rapidly and has accounts in all 50 states. This is assuredly partially due to the fact that some customers have reported ABLEnow offers more advantages and affordability than their own state’s ABLE program.
Here’s a brief video on ABLEnow.
ABLEnow Introduction from ABLEnow on Vimeo.
ABLEnow is administered by Virginia529, the country’s largest college savings plan, which now has an expanded mission to meet the needs of individuals with disabilities. Programs like this must follow very specific guidelines. You can find the answers to ABLEnow FAQS on the ABLEnow website. You can also learn more in the ABLE National Resource Center.
There is no reason on earth that anyone with any disability should be forced to live like a pauper or have things like health insurance impacted. I am thrilled to learn that with the introduction of ABLEnow the entire country now has access to a much needed program. I have worried for years about how we would help my youngest have a secure future with a good quality of life. The thought of him going without even some of the most basic things just because he couldn’t have a savings account was very concerning. He deserves to have the best quality of life possible. If family wants to try and help him have that then he deserves to be able to have it.
Before ABLEnow, having any significant savings of $2,000 or more wasn’t easily possible without a specific special needs trust, which is very expensive to start and not the simplest thing to fund and manage. I’ve always thought that a program that lets me (and others too!) contribute what I can as I can is greatly needed. It took only four quick and easy questions for me to see that my son appears to be eligible for an ABLEnow account. With a monthly service fee of a nominal $3.25 and with no minimum contribution amount, I feel confident knowing I can save towards his future as we are able. And since anyone can contribute to a loved one’s ABLEnow account, gift ideas are no longer a challenge because contributions make an excellent gift and don’t jeopardize eligibility for crucial disability benefits.
ABLEnow makes it easy to save and invest in your child’s future at your own pace. Open and manage your ABLEnow account online today!
Is there someone you know that might benefit from an ABLEnow account?
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