Washington State ABLE (click to open an account)
Status: Open for Enrollment
State Program Manager: Sumday Administration, LLC
State Account Limit: $500,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 3
Program Investment Institution(s): Vanguard: “Except to the extent of the Federal Deposit Insurance Corporation (FDIC) insurance provided for the debit/checking 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: Yes. Yes, against the ABLE account. No, against the estate. Washington will lien an ABLE account owner's estate for Medicaid recovery as required by the Social Security Act.
State Income Tax Deduction: No. There are no income taxes for residents of Washington.
FDIC Insured: Yes
Washington House Bill 2323Account Disclosure Document(s):
Fee to roll MI ABLE to another state plan: “$0 within Sumday family of ABLE plans. $50 to other ABLE plans.”
Washington will lien an ABLE account owner’s estate for Medicaid recovery as required by the Social Security Act.
Program at a Glance
Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
Is there an annual set fee to maintain the account? If so, how much?
Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
Yes. $1.25 a month
Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
- Fee Range
Annual Maintenance Fee:
Debit Card Fee:
$1.25 per month
Investment Option Fee Range:
$3.53 to $3.70 on $1,000 investment per year.
Free online statements
- Annual Maintenance Fee: