1. Tax Benefits: Earnings in ABLE accounts grow tax-free, and withdrawals for qualified expenses are also tax-free. 2. Resource Limit Exemption: Funds in an ABLE account up to $100,000 do not count against the SSI resource limit of $2,000. 3. Medicaid Protection: Medicaid eligibility is not affected by funds in an ABLE account, regardless of the balance.
These features make ABLE accounts a powerful tool for financial planning in pediatric care.
