JJsList.com fans know that we are always looking for new ideas that can help people with disabilities fully participate in every part of the community. We listened to a great webinar put on by the National Disability Institute and want to share 6 basic things that we learned about a new way for you to save money through a program called ABLE:
- ABLE stands for = A Better Life for Everybody; it’s a program that allows you to put money into something called an ABLE account to save, invest or spend money on your disability expenses.
- Your disability had to start before you turned 26 in order to open an ABLE account.
- You – the person with the disability -are the owner of ABLE account. Your supporter (a parent or a guardian) may be able to help with the account but the money is there for you and for your benefit.
- If you receive SSI, the money that is put into your ABLE account will not take away your government benefits (until your account reaches $100,000).
- Anybody can put money into your ABLE account to help you save; that means – you, your parents, family, friends and supporters.
- ABLE is one of many tools that you can use to live a productive, integrated life. Other tools can include things such as earning money through work, receiving government benefits money, and special needs trusts.
We think ABLE accounts are a great new tool for some folks to have choice and ability to realize greater financial independence and self-sufficiency. Are you eligible for ABLE?