Millions of Americans are receiving a stimulus payment from the federal government. For people with disabilities, this payment may count as an asset and reduce means-tested benefits unless it is spent or put into an ABLE savings account within 12 months from receipt.
ABLE-eligible people may want to consider saving all or a portion of their payment in a tax-advantaged ABLEnow account. If funds aren’t needed immediately, the stimulus is an opportunity to build an emergency fund, invest for the future, and have money available on your ABLEnow Card when you need it most.
ABLEnow accounts:
Do not affect eligibility for most benefit programs, such as Medicaid and SSI.
Are tax-advantaged, so earnings grow tax free.
Can accept contributions from anyone: the account owner, family and friends.
Are available to eligible individuals in all 50 states.
In this time of uncertainty, funds in an ABLEnow account can provide financial peace of mind. Open and manage an ABLEnow account online from the comfort of home today.
Start Saving »Call 1-844-NOW-ABLE or visit able-now.com to obtain information on the program. Seek the advice of a professional concerning any financial, tax, benefits or legal implications related to opening an account. Participating in ABLEnow involves investment risk including the possible loss of principal. ABLEnow is administered by Virginia College Savings Plan. For non-Virginia residents: other states may sponsor an ABLE plan that offers state tax or other benefits not available through ABLEnow. ©2020 Virginia College Savings Plan. All Rights Reserved.