An annual total of $17,000 can be contributed into the ABLE account by the person with a disability or from:
- Friends and Family
- Special Needs / Pooled Trust
- 529 College Savings Account rollover
In addition, an ABLE Account Owner who resides in the continental U.S. and who works and does NOT participate in an employer sponsored retirement plan – within that calendar year – may contribute up to an additional $13,590 from their earnings into their ABLE account. It is higher for residents of Alaska: $16,990 and Hawaii: $15,630
Up to $100,000 in savings within an ABLE account is disregarded as a resource and will NOT affect Supplemental Security Income (SSI).
Any amount of ABLE savings up to the plan limit, which can between $235,000 – $550,000 depending on the plan, will NOT affect eligibility for:
- Social Security and Disability Insurance (SSDI), or
- Housing Assistance – Housing and Urban Development programs (HUD),
- Supplemental Nutrition and Assistance Program (SNAP),
- Free Application for Federal Student Aid (FAFSA),
- Medicare Parts A, B, C, or D, Medicare Savings Programs, and Extra Help, or
- Any type of Medicaid benefit including Medicaid waiver services.