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People With Disabilities Can Save Money Through ABLE Accounts

A new type of savings account has recently been introduced, which caters specifically to people with disabilities: ABLE accounts. ABLE accounts are tax-free savings accounts for people with temporary or permanent disabilities. Money saved in them can be utilized to pay for expenses such as education, housing, and transportation.

ABLE accounts can be used by individuals who are afflicted with significant disabilities as long as said disabilities were present in the applying individuals before they turned 26. If one meets the criteria and is already a recipient of Supplemental Security Income benefits or Social Security Disability Insurance benefits, they already qualify for eligibility in opening ABLE accounts.

One can enroll in a program in their own state or any other program that accepts out-of-state residents.

If you had been injured in an accident and you had been left disabled because of that event, our attorneys at Chris Mayo Law Firm can get you the help that you and your family needs when it comes to filing for or appealing a Social Security disability benefits claim in San Antonio. Call us today for a free consultation at (210) 899-5440.