CalABLE allows participants to easily open and maintain their accounts online, averaging less than 10 minutes to create the account. A CalABLE account is opened in the person’s name who has the qualifying disability. When the CalABLE account is opened, you will be asked to provide an email address. You will also be asked to create a user name and password. You will enter basic information, such as your name, address, birth date and Social Security number. (If you are a parent or other authorized legal representative opening an account for someone else, you will need to enter your information plus the CalABLE owner’s information.) Be sure to have your bank or credit union account information available so that arrangements can be made to transfer funds back and forth. A few questions will be asked regarding the beneficiary’s disability in order to confirm eligibility. Once your account is open, you can manage it (for example, update your contact information, make a contribution, check your balance or request a withdrawal) by logging into your account on www.CalABLE.ca.gov.

When opening your CalABLE account, you can choose from four options that include savings and investment options. You will need to think about future needs, costs, and savings goals over time, and think about how much risk tolerance you are willing to take to grow your or your family member’s savings. If you want to change the way the money in your CalABLE account is invested, you can make changes to investments up to two times per year. To start, you could choose to save within the interest bearing, FDIC insured account, and as you save more, then you can look at the other investment options.

Here are some possible ways that you can contribute to a CalABLE account

• Contributions from family and friends or others in your support network
• Extra SSI/SSDI income* (SSI needs to be spent on housing and food each month. Extra SSI can be saved within ABLE.)
• SSI/SSDI back payments
• Large windfall payments up to $15,000 (per calendar year)
• Pension, inheritance, alimony, child support (up to $15,000)
• Employer contributions
• Surplus money from your spending plan
• Special Needs Trust and/or Pooled Trust
• 529 College Savings up to $15,000 can be rolled over to CalABLE
• Income tax refund
• Earned income; a person who does not choose to participate in an employer sponsored retirement account, may save up to an additional $12,140 from their earnings, within ABLE. Then deposits could total up to $27,140 for one calendar year: that is $12,140 from earnings with an additional $15,000 in contributions from possible sources listed above.

Contributions to a CalABLE account must be by cash, money order or direct transfer. Securities, property or other assets may not be deposited into an ABLE account.

Please note: Earned and unearned income, are countable sources of income that may affect SSI, SSDI, Medicaid and public benefit eligibility. Earned income is subject to Social Security Administration countable earnings calculation. Contributions made directly into ABLE from family and friends are not countable income.

ABLE savings of up to $100,000 does not change SSI eligibility. ABLE savings of any amount does not change eligibility for any type of Medicaid. Social Security Disability Insurance (SSDI) and Medicare do not have resource limits, so any amount of ABLE savings does not change eligibility for SSDI, Medicare or even SNAP or HUD benefits.