ABLE United Program Helps Floridians With Disabilities Save
Until just a few years ago, individuals with disabilities and their families could not have more than $2,000 in cash or investments in the disabled relative’s name without losing all or part of government benefits they receive, like Supplemental Security Income, Medicaid or other services. But, in 2014, Congress passed the Achieving a Better Life Experience Act, or ABLE, which created a state-sponsored, tax-advantaged savings program similar to a popular college savings program.
The plans started becoming available two years later, but according to The ABLE National Resource Center among about 8 million people that could qualify for an ABLE account, less than 50 thousand have one.
We're talking with John Finch, he is director of ABLE United, which is the state of Florida’s ABLE Program that is administered by Florida ABLE, Inc., a direct-support organization of the Florida Prepaid College Board.