ABLE Accounts

In 2014, Congress passed the Achieving a Better Life Experience (ABLE) Act, creating a savings and investment account specifically for people with disabilities

ABLE accounts allow people with disabilities to save money that is not counted towards asset limitations set by means-tested benefit programs such as Medicaid or SSI. “Asset limits” prevent people with disabilities from saving money beyond $2,000 (a typical asset limit) and planning for their future.

Anyone can contribute to an ABLE account – including the account owner, friends, family, organizations, nonprofits, and employers – up to $17,000 per year. There are lifetime balance limits for the various state ABLE Programs, which range from around $300k to over $500k.

To learn more about this important resource, CLICK HERE.

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