Below is a great article about STABLE accounts from Disability Scoop
that addresses stimulus checks and their impact on disability benefits.
Millions of Americans are receiving a stimulus payment from the federal government. For individuals 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 individuals 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.
- 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.
To learn more: