ABLE Accounts

ABLE Accounts (Achieving a Better Life Experience) are specialized savings accounts designed for individuals with disabilities, allowing them to save money without losing eligibility for certain benefits like Medicaid or Supplemental Security Income (SSI). Contributions are made with after-tax dollars, and the funds can be used for qualified expenses such as education, healthcare, housing, and transportation. The account balances grow tax-free, and the total annual contributions are capped. ABLE Accounts empower individuals with disabilities to save and manage their finances more independently while maintaining essential government benefits.