ABLE (Achieving A Better Life Experience) accounts are an innovative way for people with disabilities to save money without jeopardizing means-tested benefits, such as SSI or Medicaid.

The ABLE Act, modeled after the college savings program (529 accounts), will help people with disabilities meet their needs in the community without losing essential benefits provided through
private insurance, Medicaid, the Supplemental Security Income program, and other sources. People with disabilities receiving federal benefits cannot have more than $2,000 in assets and must have very low monthly income. The ABLE Act will give individuals with disabilities and their families the ability to save for their future by opening a Section 529a “ABLE” account, which will not count towards this $2,000 cap.

Who’s eligible to open an ABLE account?

Any individual who has the onset of disability before the age of 26 and meets one of the following:

  • Is elegible to receive benefits based on disability (like SSI or SSDI)
  • Has a disability certification signed by a physician declaring individual meets social security definition of disability

Maryland ABLE Features

  • Contribute up to $14,000 per year
  • Contribute up to $350,000 per account lifetime
  • Save up to $100,000 in your ABLE account before impacting SSI limits for cash benefits
  • Save money without jeopardizing state and federal means-tested benefits, such as medical, food or housing assistance
  • Potentially up to $2,500 state income tax deduction per filer and $5,000 for joint filers

Qualified Disability Expenses

  • Health, prevention and wellness
  • Housing
  • Education
  • Employment training & support
  • Transportation
  • Assistive technology and and personal support services
  • Financial management and administrative services
  • Legal Fees
  • Expenses for oversight and monitoring
  • Funeral and burial expenses

ABLE Complimentary Savings

  • Invest funds and grow assets tax free
  • No federal income tax on earnings if funds are used for qualified disability expenses
  • Easily access funds for qualified disability expenses


One individual with a disability = One ABLE account

ABLE account = owned & operated by the individual with a disability except in cases of a legal guardian or power of attorney


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