FAQs
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- Benefits
- Contributions
- Eligibility
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- Can I open and/or manage more than one ABLE account?
- Yes, you can have an ABLE account for yourself and/or open and manage multiple ABLE accounts for beneficiaries as their Authorized Legal Representative. Remember that each ABLE account can be connected to one or more bank accounts. Remember that each beneficiary can have only one ABLE account at a... Read more
- How do I add another ABLE account?
- You can do this two ways: Logged out, from the sign-up page Sign up for a new ABLE account. During the first step of registration there will be a link to sign in. Log in and follow the steps to create an ABLE account for either yourself or your beneficiary. Logged in, from the dashboard of your... Read more
- Do I use the same login information if I have multiple ABLE accounts?
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Yes, you have only one username (email) and password to log in to all the ABLE accounts you manage for either yourself or your beneficiaries.
- If I manage multiple ABLE accounts, can I transfer funds from one ABLE account to another?
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No, you can't transfer funds from one ABLE account to another ABLE account.
- Do I get additional tax benefits if I contribute to multiple ABLE accounts?
- No, tax benefits for ABLE accounts and 529 plan accounts are aggregated for tax purposes by contributor, not by ABLE account or 529 plan. Anyone who contributes to one or more ABLE accounts or 529 plans with beneficiaries under the age of 21 can receive tax benefits up to the maximum allowable... Read more
- Where can I find my account number?
- You can find all the information about an ABLE account on the Overview page. The account number is at the top of that page. The rest of the information about the beneficiary's account — including contact info, condition, customization, money allocation, and yearly goal — can be viewed and edited... Read more
- What happens after the death of a beneficiary? Is there a Medicaid payback?
- In the event of the death of a beneficiary, the funds from their ABLE account can be used by his or her estate to repay any outstanding eligible expenses or funeral and burial costs. If the beneficiary was receiving Medicaid benefits, Medicaid can file a claim for a payback upon the beneficiary's... Read more
- Are contributions considered to be an asset?
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The money in the account generally isn't considered to be an asset for state and federal benefit purposes. For Supplemental Security Income (SSI) benefits only, you can have up to $100,000 in the account before the funds start to count against the $2,000 limit.
- Can someone else access my account?
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To keep the account safe, don't share your password or let someone else have access to your account unless an Authorized Legal Representative (ALR) is the manager. If you want to change the ALR for the account, give us a call Monday through Friday, at 1-844-394-2253 from 9am-8pm ET.
- What if I want to close my account?
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Simply give us a call and we'll help you out. Reach us Monday through Friday, at 1-844-394-2253, 9am-8pm ET. We'll be sad to see you go.
