Ohio

Program Name: STABLE Account (click to open an account)
Status: Open for Enrollment
State Program Manager: Intuition ABLE Solutions, LLC
State Account Limit: $468,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 4
Program Investment Institution(s): Vanguard Group, Inc: “Except to the extent of the Federal Deposit Insurance Corporation (FDIC) insurance provided for the BankSafe option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested.”
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes
Medicaid Payback Waived: No.
State Income Tax Deduction: Yes. $4,000 of contributions are deductible for Ohio individual income tax purposes (with unlimited carry forward).
FDIC Insured: Yes
ABLE Legislation:

Ohio House Bill 155 implements the federal ABLE Act in Ohio

Account Disclosure Document(s):

Account Disclosure Document


Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $50.
  • Is there a required minimum contribution to your account? If so, what is the amount?
    Yes. $1.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. $30.00 per year for Ohio residents and $42 per year for non-Ohio residents.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    Yes. There are no added costs for the STABLE Card, a loadable prepaid debit card.
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes. $0.
  • Fee Range
    • Annual Maintenance Fee:
      The current account maintenance fee is $30 per year, payable at $2.50 per month, for Ohio account owners and $42 per year, payable at $3.50 per month, for non-Ohio account owners.
    • Investment Option Fee Range:
      Based on a $1000 account balance: $1.90 to $3.30 for Ohio residents and $4.50 to $5.90 for out-of-state residents.
    • Statement Fee:
      $10 annually (print/mail); $0 electronic
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