How to handle costs

An ABLE account allows families to save and use money for a wide range of needs without affecting certain benefits like SSI or Medicaid.

It provides a way to set aside money for your child’s needs without risking benefit eligibility, while still allowing flexible use for everyday expenses.

I set up an ABLE account through Fidelity so my investment accounts are in one place. The process was straightforward and didn’t take long.

• protects eligibility for benefits
• allows money to be set aside for future needs
• can be used for a wide range of expenses
• offers tax advantages in some cases

• review state limits and eligibility
• confirm what qualifies as an expense

Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) allow you to use pre-tax money for certain medical and health-related expenses.

These accounts can reduce out-of-pocket costs by using tax-advantaged funds for eligible items and services.

This can be useful if you:

• have regular medical or therapy-related expenses
• are purchasing items that may qualify as health-related
• want to reduce overall costs using pre-tax dollars

• eligibility depends on your specific plan
• some items may require documentation (like a letter of medical necessity)
• rules vary, so it’s worth checking before purchasing