Hey, folks on SSI and Medicaid! You know that ever-dreaded $2,000 “asset limit” that effectively locks you into poverty? Well, there’s this fancy new thing called the “ABLE Act” that allows many of us to save money far beyond $2,000, so we can finally save for our future or have a financial buffer for the present. It’s an absolute game-changer for many in the disability community. These specialized ABLE Accounts are up and running, so you may be able to open one today!
ABLE Accounts are specialized tax-advantaged savings and investment accounts specifically for people with disabilities that allows a good chunk of our community to save up to $100,000 and still keep SSI, and $300,000 or more and still keep Medicaid (and attendant care tied to Medicaid eligibility). Different account options, such as FDIC-insured savings or full investment