LEAD PARTNER: ABLE National Resource Center
The ABLE National Resource Center (ANRC) is a collaborative that brings together the investment, support, and resources of some of the country's most influential national disability organizations to accelerate the design and availability of ABLE accounts. Founded and managed by National Disability Institute (NDI), ANRC's goal is to provide consistent, reliable information concerning the benefits of an ABLE account. ABLE accounts, created as a result of the Achieving a Better Life Experience Act of 2014 (ABLE Act), are tax-advantaged savings accounts for eligible individuals with disabilities.
Millions of individuals with disabilities and their families depend on public benefits such as Supplemental Security Income (SSI), Supplemental Nutrition Assistance Program (SNAP) and Medicaid for income, food, healthcare and services. Eligibility for these programs require individuals to meet a means-test and report assets of value in cash, savings, and retirement funds.
The ABLE Act recognizes the significant costs of living with a disability. ABLE accounts allow an individual and his/her family to establish a savings account that does not affect eligibility for public benefits. Total annual contributions by all participating individuals, including family and friends, for a single tax year is $14,000 and the first $100,000 of savings in ABLE accounts are not counted toward the Supplemental Security Income (SSI) $2,000 individual asset limit.
Currently, 22 states have launched ABLE programs and most of these ABLE programs are open for enrollment by eligible individuals nationwide; the exceptions are Florida and Kentucky, which only accept residents from their states. Please visit the ABLE National Resource Center website for more information and details about ABLE account programs.