Introducing the ABLENow: An ABLE Act Savings Program
This post was sponsored by ABLEnow®, but all opinions expressed are my own.
ABLEnow Savings Program
If you or a loved one are living with a disability and are looking for options to save money, this post is for you! I am excited to share with my readers about the ABLEnow program. ABLEnow is designed to help you or your loved one save money without worrying about losing public benefits like Medicaid or SSI.
My husband and daughter have been living with Ankylosing Spondylitis for many years. My husband is now on disability from work. In the past, we might have been concerned with how to save money without affecting disability benefits.
This isn't the case after the ABLE Act of 2014. If you aren't familiar with this act, it has “authorized states to establish tax-advantaged savings programs for individuals with a disabilities”. (Source: ABLEnow)
As with many families who qualify for disability benefits, these are very important to our family. It would not make sense long term to save up money, only to have it take the place of certain disability benefits!
Cost of Living with a Disability
You can find out here if you or your family member is eligible for this program. In the past we've ended up with high medical expenses. Having savings set aside when possible is very important to us.
So, I am excited to spread the word on this program and increase awareness! With the ABLEnow account we can put aside extra savings from our jobs. The ABLEnow account also allows contributions from family and friends for gifts like birthdays and holidays.
If you have a son or daughter at home who qualifies for an ABLEnow account, this would be a great option to allow family to contribute for birthdays and graduations. This can help them grow their savings over time.
Opening an ABLEnow Account
You first need to see if you're eligible. You can click here for their eligibility page. Accounts are available to eligible individuals in all 50 states. If you live in the U.S., it should be available in your location.
The program is offered by the Commonwealth of Virginia and run by the Virginia529 college savings plan. You can find more information on the ABLEnow website, and view their intro video here. If you're more of a brochure person, you can view and print their 4 page full brochure here!
ABLE programs are operated by states and not the federal government. If you would like more information on ABLE programs in general, find them here at the ABLE National Resource Center.
You can also open and manage your account all online, which honestly is a big thing for me. Find the account landing page here. Be sure to note, individuals can only have (1) ABLEnow account.
Sweepstakes:
Head over here for a chance to win a $500 contribution to an ABLEnow account! All official rules can be found at link!
This post was sponsored by ABLEnow, but all opinions expressed are my own.
