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FAQs

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Can I use ABLE funds to pay for a vacation?

Yes, a vacation does qualify as an eligible expense as long as it can help maintain or improve the health, independence, or quality of life of the person living with a disability.

Does having an account affect my other benefits?
No. You can keep your federal and state benefits (SSI, SSDI, Medicaid, SNAP, TANF, HUD Assistance, Section 8, etc.) with an ABLE account. If you receive SSI, there is a $100,000 limit before funds start counting against your $2,000 asset limit. As long as the money withdrawn is used for eligible... Read more
What kind of benefits do I get?
One of the main benefits of having an ABLE account is being able to save for eligible expenses and invest for the future in a tax-advantaged account. The account's growth is tax free and you may qualify for a state income tax deduction, depending on where you live. As long as your balance stays... Read more