ABLE Accounts
In 2014, the Achieving a Better Life Experience (ABLE) Act was signed into law. The ABLE Act allows people with disabilities to create tax-advantaged savings accounts called ABLE accounts.
The money in ABLE accounts can be used for qualified disability-related expenses, such as education, housing and transportation. Most importantly, ABLE accounts allow people with disabilities to save money without losing their eligibility for federally funded benefits such as Medicaid or Supplemental Security Income (SSI).
People with Disabilities are ABLE to save.
The ABLE National Resource Center is here to help.
The ABLE National Resource Center (ABLE NRC) was founded, and is managed, by National Disability Institute to provide reliable information about ABLE programs and accounts. The ABLE NRC offers all of the latest information on ABLE, including state-by-state program updates, informational videos, webinars, policy summaries and answers to frequently asked questions.
ABLE at a glance.
- This transformative law aims to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available for qualified disability expenses.
- Funds contributed into these accounts will not adversely affect eligibility for most means-tested benefits.
- ABLE accounts are meant to supplement, not supplant, benefits provided through private insurance, Medicaid, Supplemental Security Income (SSI) benefits, employment and other sources.
PEOPLE WITH DISABILITIES ARE ABLE TO SAVE.
THE ABLE NATIONAL RESOURCE CENTER IS HERE TO HELP.
The ABLE National Resource Center (ANRC) was founded by NDI to provide reliable information about ABLE programs and accounts. The ANRC offers all of the latest information on ABLE, including state-by-state program updates, informational videos, webinars, policy summaries and answers to frequently asked questions.
ABLE at a glance.
- This transformative law aims to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available for qualified disability expenses.
- Funds contributed into these accounts will not adversely affect eligibility for most means-tested benefits.
- ABLE accounts are meant to supplement, not supplant, benefits provided through private insurance, Medicaid, Supplemental Security Income (SSI) benefits, employment and other sources.
ABLE BASICS
- There are eligibility requirements related to opening an ABLE account. Currently, an individual must have a disability which began before age 26. This criterion is expanding to before the age of 46 on 1/1/2026.
- In general, there is an annual contribution limit (all contributors combined). Click here for current contribution limits.
- An eligible individual is not obligated to enroll in their state of residence.
- The “designated beneficiary” is the account owner (although another person such as a parent, guardian or person with power of attorney may be allowed signature authority over the account).
- Funds in the account may be used for “qualified disability expenses.” Examples include, but are not limited to, education, housing, transportation, employment training and support, assistive technology, personal support services, health, prevention and wellness, financial management and administrative services, legal fees, funeral and burial expenses and basic living expenses.
- Assets in and distributions for qualified disability expenses will be disregarded or given special treatment when determining eligibility for most federal means-tested benefits (including SSI benefits and Medicaid).
- Contributions to an individual’s ABLE account may be made by any “person.” A person is defined as an individual, trust, estate, partnership, association, company or corporation.
Steps to achieving a better life experience through ABLE
Opening an ABLE account can help you on the path to financial independence. Learn more about ABLE accounts, how to open and maintain and account, or how to contact the ABLE National Resource Center.
- Is an ABLE account right for you or for someone in your family? Learn more about ABLE accounts and find out how you can enroll. Visit the ABLE National Resource Center (ABLE NRC).
- On the ABLE NRC website, you can download resources, view webinar archives and learn more about how an ABLE account can help you build a better financial future.
- There are over 40 ABLE programs nationwide that currently allow eligible individuals with disabilities to open an ABLE account. Get ready to open your own ABLE account or get help managing your existing ABLE account. Review the Road Map to Enrollment or the Road Map to Independence.
- Do you have questions about ABLE accounts? Fill out the ABLE National Resource Center Contact Form.
Other Financial Resources
Financial Capability
Financial capability education is a critical first step on the road to financial stability.
Benefits Planning
NDI can help individuals understand the relationship between federal and state public benefits and work.
Taxes & Tax Preparation
The Internal Revenue Service (IRS) provides free tax preparation services to qualifying taxpayers.
Assistive Technology
NDI’s loan program can help pay for devices that improve or maintain independence and quality of life.
Your Support Matters
Be a catalyst for change by donating today to support National Disability Institute’s innovative projects and research that help build a better financial future for people with disabilities and their families. NDI is a 501(c)3 organization and all donations are tax deductible.
