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- Benefits
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- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- Am I eligible for an ABLE account?
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If you developed a disability or blindness before the age of 26 and are eligible for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) benefits, or have a signed Diagnosis Form( opens in a new window ) from a licensed physician, you can open an ABLE account.
- Who can have an account?
- Anyone with an eligible disability or blindness (as defined by the Social Security Act) who was diagnosed before the age of 26 can have an ABLE account. If you’re over 18 years old, you can open your own account; if not, an Authorized Legal Representative can do it. Either way, you can have only... Read more
- Do I have to pay taxes on my account?
- As long as the money in your ABLE account is used for eligible expenses, it won't be counted as income for your state or federal taxes. If a purchase doesn't qualify as an eligible expense, you'll have to pay taxes and a 10% penalty on the amount. If you want to know more about the IRS regulations,... Read more
- How is this different from a Special Needs Trust or Pooled Trust?
- An ABLE account won't replace a Special Needs Trust or Pooled Trust. There are some key differences that are meant to give people with disabilities and their families more options. With an ABLE account: There are fewer expenses than setting up a trust. The beneficiary owns the funds and can... Read more
- What happens to my state and federal benefits?
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Your ABLE account grows up to $100,000 without affecting your Supplemental Security Income (SSI) benefits. Other federal benefits are not affected, regardless of the balance in the ABLE account.
- What is the ABLE for ALL Savings Plan?
- The ABLE for ALL Savings Plan is a plan available to U.S. citizens nationwide to help those living with eligible disabilities save for qualified expenses and invest for the future in a tax-advantaged account ‒ without losing federal and state benefits (like SSI, SSDI, Medicaid, SNAP, TANF, HUD... Read more
- What is the ABLE Act?
- Millions of people with disabilities rely on public benefits and federal programs such as Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, and others for their living and basic needs, but even those benefits can be limiting. Those receiving much needed... Read more
- Where can I change my password or set up multi-factor authentication?
- Once you log in, select “Security Center” from the dropdown menu next to your profile icon in the upper right corner of the screen. You can also go to your profile and select the “Open Security Center” button next to Login settings. From here, you can make any changes to your account that have to... Read more
- Is there a mobile app for ABLE for All?
- If you already have an ABLE for ALL account, you can download the Vestwell app for iOS or Android and take your account with you on the go. You can make contributions, withdraw funds, share gifting pages, and more. Download the app today, log in using your ABLE for ALL username and password, and... Read more
- How will my gift contribution be invested?
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Any gift contribution to an ABLE for All account is invested based on the preferences and choices of the account owner.
