The Achieving a Better Life Experience (“ABLE”) Act of 2014 authorizes each state to establish a Qualified ABLE Program to offer savings and investment options to individuals with a disability and their families for disability-related expenditures. Earnings in these accounts will be tax-free under Section 529A of the Internal Revenue Code as long as the funds are used to pay for qualified disability expenditures such as education, health, financial management services, housing, and transportation of a Beneficiary. An ABLE account is intended to supplement, but not replace, the benefits provided through private insurances, Medicaid, Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), the Beneficiary’s employment, and other sources.
The Florida Prepaid College Fund encourages you to provide your guidance and input for the creation of the Florida ABLE Program. To do so, please complete a short survey at https://www.surveymonkey.com/r/TD77D25.
The last day to complete this survey is May 31, 2015.
Input received from the survey above will assist in the development of a Qualified ABLE Program in Florida and will specifically guide the investment options that will be offered. For additional information about the Florida ABLE program, please visit http://www.myablesavings.com.