For what purpose is an ABI account primarily used?

An ABI (Achieving a Better Life Experience) account is primarily designed to support individuals with disabilities and their families in saving for qualified expenses without jeopardizing their eligibility for government assistance programs. Among the options provided, tax-free withdrawals for qualified medical expenses align directly with the purpose of an ABI account.

Funds deposited into an ABI account can grow tax-free and be withdrawn tax-free, provided that the funds are used for qualified expenses, which include a variety of necessary supports such as medical care, therapy, and other related costs. This feature is crucial as it empowers individuals with disabilities to manage their financial responsibilities while also ensuring they can receive the necessary healthcare services without incurring personal tax liabilities.

The focus of ABI accounts on medical expenses illustrates the account's functionality as a financial tool aimed at improving the quality of life for individuals with disabilities, thus making tax-free withdrawals for qualified medical expenses the correct choice.