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  1. Education
  2. Paying for College

ABLE Savings Accounts: An Updated, State-by-State List of Programs

By:
Megan Leonhardt
Last Updated: May 10, 2017 | 11 min read
Paraplegic athlete stretching with female teammate - Mike Harrington—Getty Images
Paraplegic athlete stretching with female teammate Mike Harrington—Getty Images

Until recently, accumulating as little as $2,000 in savings spelled disaster for the millions who rely on federal assistance with medical bills and living costs—because even that modest amount was enough to render them ineligible for disability benefits through Medicaid or Supplemental Security Income (SSI).

That's now changed. The federal ABLE Act, passed in 2014, made way for new state programs—modeled after 529 savings plans—that let those with disabilities, and their families, put aside up to $14,000 a year to be used for a wide variety of disability-related costs, including living expenses. The most important shift: Money in these accounts won't count against the $2,000 asset limit.

Any individual who is blind or diagnosed with a disability before age 26 and getting benefits through the Social Security disability program is automatically eligible. You may only have one account—but it can be in any state that allows it. (Read more on the best ways to use the new ABLE accounts.)

Mutual fund giant Fidelity launched a Massachusetts-based ABLE program in May, bringing the total of state ABLE programs to 21. Below is a list of all the programs. Money will continue to update this page as new states roll out their own programs. You can also use this tool from the National ABLE National Resource Center to compare the state programs’ investment options, costs, tax benefits, and other perks head to head.

Alabama

 

Alaska

Florida

Illinois

Iowa

Kansas

Kentucky

Massachusetts

Michigan

Minnesota

Missouri

Nebraska

Nevada

North Carolina

Ohio

Oregon

Pennsylvania

Rhode Island

Tennessee

Vermont

Virginia

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