Author: Diane Stewart, Enable Outreach Specialist
If you’re new to the Enable Savings Plan community, welcome! The second annual Enable New Account Bonus Program kicks off this fall, and there’s no better time to learn more about the Plan’s many benefits. Read on for everything you need to know about the bonus, and about saving with Enable.
New Account Bonus Details
The New Account Bonus program runs from October 1 through December 31, 2019. It awards a $50 bonus contribution to the first 40 eligible individuals who open a new Enable Savings Plan account with a minimum $50 deposit. New accounts can be opened online at enablesavings.com or via mail to the address on the enrollment form. For full rules and to claim the bonus, visit enablesavings.com/bonus.
Enable provides tax-free savings accounts for individuals with disabilities, allowing them to save without affecting their eligibility for public benefits like Medicaid and Supplemental Security Income (SSI). One of the first national ABLE savings plans in the country, Enable offers a range of investment options and contribution tools to make saving for disability expenses as simple and personalized as possible.
Individuals are eligible to own an Enable account if they have a disability at the time the account is opened, and the onset of the disability was prior to their 26th birthday. An account can also be opened by an Authorized Individual on behalf of an Account Owner.
Contributions to Enable accounts grow tax-free, and funds can be withdrawn tax-free for Qualified Disability Expenses – that means every dollar saved can go where it’s most needed. A Qualified Disability Expense is an expense related to the disability of the Eligible Individual. This covers a wide range of categories that extend beyond medical expenses, including those such as education, service animals, housing, transportation, financial management and administrative services and basic living expenses. Click here for the full list of qualifying expenses.
Enable is committed to advancing disability inclusion through access to financial stability and independence. An annual initiative, the New Account Bonus Program is aimed to magnify our impact nationwide. But hurry! Only the first 40 new accounts will qualify for the bonus.