Empowering Families with ABLE Accounts
Discover the Benefits of ABLE Accounts for Disabilities
Explore how ABLE Accounts can provide financial security and independence for individuals with disabilities, offering a pathway to a more stable future.
Understanding ABLE Accounts
Key Features of ABLE Accounts
Tax-Advantaged Savings
Contributions to ABLE Accounts grow tax-free, providing a significant financial advantage for families looking to maximize their savings.
Flexible Use of Funds
Funds in an ABLE Account can be used for a variety of disability-related expenses, from education and housing to healthcare and transportation.
Preservation of Benefits
ABLE Accounts allow individuals to save without affecting their eligibility for critical federal benefits like SSI and Medicaid.
Understanding ABLE Accounts
ABLE Accounts offer a tax-advantaged savings option for individuals with disabilities, allowing families to save for future expenses without affecting eligibility for government benefits.
What is an ABLE Account?
An ABLE Account is a savings account that allows individuals with disabilities to save money for disability-related expenses without jeopardizing their eligibility for certain public benefits.
Who is eligible to open an ABLE Account?
Individuals who developed their disability before the age of 46 are eligible to open an ABLE Account. They must also meet the criteria for significant functional limitations.
What expenses can ABLE Accounts cover?
Funds in an ABLE Account can be used for a wide range of expenses related to the beneficiary’s disability, including education, housing, transportation, and health care.
How do ABLE Accounts affect Medicaid eligibility?
ABLE Accounts do not affect Medicaid eligibility. Beneficiaries can maintain their Medicaid benefits regardless of the balance in their ABLE Account.
How much can be contributed to an ABLE Account annually?
The annual contribution limit for an ABLE Account is $19,000, but working account holders may be eligible to contribute additional funds from their income.
Start Your ABLE Account Today
Impact of ABLE Accounts
ABLE Accounts have significantly improved financial security for families with disabilities, providing a crucial tool for planning and saving.
Over 200,000 Accounts Opened in U.S.
$2.8+ Billion in Assets Managed
Over 80% of Families Report Reduced Financial Stress
What Our Families Say
★★★★★
“Opening an ABLE Account has been a game-changer for our family. We now have peace of mind knowing we can save for our child’s future needs without losing vital benefits.”
Emily R.
Mother of a Beneficiary
★★★★★
“Thanks to Harbor Light Financial Strategies, we were able to set up an ABLE Account easily. It’s a relief to have a dedicated savings plan for our son’s education and medical expenses.”
John D.
Father of a Beneficiary
★★★★★
“The support and guidance we received made all the difference. Our ABLE Account has allowed us to plan for the future with confidence.”
Sarah L.
Parent Advocate
Unlock Financial Freedom with ABLE Accounts
Discover the benefits of ABLE Accounts and how they can empower you to manage financial resources effectively. Our team at Harbor Light Financial Strategies is here to guide you through the process, ensuring you have the support you need every step of the way. Reach out to us to learn more about setting up your ABLE Account today.