A DOLLAR SAVED IS A DOLLAR EARNED
SAVINGS PROGRAMS
ACN CareCard makes planning and providing for your loved ones easy, manageable, and worry-free. We have two products that offer members benefits for the future that add up.
If you place care of a loved one in the trusted hands of another individual, the ACN CareCard frees you from worrying about whether your loved ones are really getting the health essentials they need. This is a smart debit card that provides you with the tools you need to manage caregiver financial purchases. You are able to control what type of purchases are made for care of your loved one!
We offer members the ability to contribute to a personal savings plan to pay for services not covered by Medicare or long-term care insurance. This is an after-tax savings account, meaning you can spend funds for yourself or a loved one/colleague in need of care. Examples of how our members are using the account include adult children contributing monthly to an ACN account in anticipation of future and expected Alzheimer care services for their mother. Employers use the program to encourage employees to help fellow employees in time of need via ACN’s gifting program, including the ability to gift anonymously.
Opening your account is easy! You may open your account online, by going here. Setup of your ACN Savings Account requires a one-time fee of $10 and a minimum monthly contribution of $25. You may make deposits via electronic funds transfer.
Frequently Asked Questions
Follow this link to Join Now online.
Your Amazing Care account is a traditional interest bearing account. All funds are available to you at all times to be used for whatever purpose you wish. All money contributed is post-tax. The only tax you owe is on any interest paid – just like your checking or savings account. We partner with Sterling Administration because their 17-year history in administering financial accounts ensures that Amazing Care members receive the best service available. You can choose to keep your account within Sterling, or use their brokerage partner TD Ameritrade for reduced fees, or self-direct to another investment account of your choice once a minimum funding level of $5,000 is reached.
No, the account owner must open his or her own account. However, you may transfer or gift funds to another member’s account by logging in to your account and entering the required information in the Gifting tab. Gifts can also be given anonymously if you wish.
ACN charges a modest, one-time set-up fee of $10 to establish a member’s account. This fee is automatically withdrawn from the member’s account when the initial funding is processed.
Some people find they do not need the savings option, but are interested in connecting with other Amazing Care members as well as learning more about the various topics we cover in aging and health care. You can join as an Affiliate member for an annual fee of $200 to attend up to 4 ACN events a year. You will also receive our monthly newsletter via email. If you find you need additional help, you can always become a full account holder to access our partners and resources.
Amazing CARE Network members are required to contribute a minimum of $25.00 monthly and maintain a minimum balance of $100 in their Amazing CARE account. The monthly contribution requirement is waived for members whose account balance is at least $1,000. You can also choose to deposit a lump sum at any time.
Suggested Savings
How much should I set aside monthly/annually at an assumed interest rate yield of 3% on my savings?
| AGE | SAVINGS GOAL | ANNUAL SAVINGS | MONTHLY SAVINGS |
|---|---|---|---|
| 45 | $30,000 | $482.00 | $40.17 |
| 45 | $50,000 | $803.00 | $66.92 |
| 55 | $30,000 | $799.00 | $66.58 |
| 55 | $50,000 | $1,331.00 | $110.92 |
| 65 | $30,000 | $1,566.00 | $130.50 |
| 65 | $50,000 | $2,610.00 | $217.50 |
| 75 | $30,000 | $5,846.00 | $457.17 |
| 75 | $50,000 | $9,143 | $761.92 |
How much should I set aside monthly/annually at an assumed interest rate yield of 6% on my savings?
| AGE | SAVINGS GOAL | ANNUAL SAVINGS | MONTHLY SAVINGS |
|---|---|---|---|
| 45 | $30,000 | $254.00 | $21.17 |
| 45 | $50,000 | $423.00 | $35.25 |
| 55 | $30,000 | $516.00 | $43.00 |
| 55 | $50,000 | $860.00 | $71.67 |
| 65 | $30,000 | $1,216.00 | $101.33 |
| 65 | $50,000 | $2,027.00 | $168.92 |
| 75 | $30,000 | $5,021.00 | $418.42 |
| 75 | $50,000 | $8,368.00 | $697.33 |
Members fund their account via an electronic funds transfer from their personal checking or savings account. Once your bank account has been added, go to MANAGE ACCOUNT > Deposits > Make a Deposit. You have an option to make a one-time deposit or monthly deposit. Complete the required fields for your selected option then click on SUBMIT.
Yes, you may. Click the “Manage Account”, then “Gifting” to specify how much and to whom your gift should be directed.
Generally speaking, you should strive to set aside $30,000–$50,000 by age 80 to provide financial flexibility for a variety of needs. More funds can certainly be set aside depending on one’s preferences, financial situation, and goals.
Suggested Savings
How much should I set aside monthly/annually at an assumed interest rate yield of 3% on my savings?
| AGE | SAVINGS GOAL | ANNUAL SAVINGS | MONTHLY SAVINGS |
|---|---|---|---|
| 45 | $30,000 | $482.00 | $40.17 |
| 45 | $50,000 | $803.00 | $66.92 |
| 55 | $30,000 | $799.00 | $66.58 |
| 55 | $50,000 | $1,331.00 | $110.92 |
| 65 | $30,000 | $1,566.00 | $130.50 |
| 65 | $50,000 | $2,610.00 | $217.50 |
| 75 | $30,000 | $5,846.00 | $457.17 |
| 75 | $50,000 | $9,143 | $761.92 |
How much should I set aside monthly/annually at an assumed interest rate yield of 6% on my savings?
| AGE | SAVINGS GOAL | ANNUAL SAVINGS | MONTHLY SAVINGS |
|---|---|---|---|
| 45 | $30,000 | $254.00 | $21.17 |
| 45 | $50,000 | $423.00 | $35.25 |
| 55 | $30,000 | $516.00 | $43.00 |
| 55 | $50,000 | $860.00 | $71.67 |
| 65 | $30,000 | $1,216.00 | $101.33 |
| 65 | $50,000 | $2,027.00 | $168.92 |
| 75 | $30,000 | $5,021.00 | $418.42 |
| 75 | $50,000 | $8,368.00 | $697.33 |
A minimum balance of $5,000 is required before members can self-direct their investments. Once the $5,000 threshold is met, the member may invest excess funds via a broker of the member’s choice.
The $5,000 threshold ensures that cash is readily available to the member for payment of products and services that a member may need immediately.
No, you can use your Amazing Care funds for anything you wish at anytime.
You decide how to use your funds, including how much to withdraw, the timing and frequency of the withdrawal and how to use your money.
Sterling is a privately held, woman-owned, financially self-sustaining company with a strong family-oriented culture. Founded in 2004, it administers account-based programs like health savings accounts, FSAs, HRAs, Cobra and the like on behalf of employers and individuals. It is highly regarded for its sterling quality service. Please visit their website for more information: www.sterlingadministration.com.
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