Compare State Programs

No matter where you reside, you can open an ABLE account in any state that accepts outside residents into their program.

How to use the Three-State Comparison Tool:

  1. Select up to three states below for a side-by-side comparison of various program characteristics.
  2. Click on “Learn More” under each selected state to go to that individual state page.
  3. Click on the “Program Name” to be directed to that state’s ABLE program to open your account.

The ABLE National Resource Center does not manage or issue ABLE accounts directly. We work with state ABLE programs to ensure information contained in our tools and resources is updated regularly. We monitor these resources closely, but all information remains subject to change by individual state ABLE programs. For details about any state ABLE program, refer to the state’s plan disclosure documents. 

Alabama /state-review/alabama/ Alabama ABLE Savings Plan (click to open an account) Phone number: 1-833-711-2253 https://www.alabamaable.gov/ Open for Enrollment Vestwell Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. BNY Mellon 3 Vanguard Yes, the ABLE plan True Link Cards offer different levels of spending on qualified disability expenses and tracks QDEs for the ABLE account owner and authorized legal representative. No 5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions No Yes 5,000 for single filers and $10,000 for joint filers.

 

 Alabama Senate Bill 226 implements the federal ABLE act in Alabama

 Yes BNY Mellon FDIC Insured account up to $250,000. Yes 25 Yes 5 Yes $35.00 per year charged quarterly in the amount of $8.75 No Yes $5.00/month Yes 0 $35 per year. 0 $5.00 per month

Please See Plan Disclosure Document

 0 No fee for electronic statements. $20 annually for mailed paper statements. $0

Alabama ABLE offers direct deposit for Social Security funds for account owners who have a representative payee. On the go account management can be done through the Vestwell mobile app. There is also a savings booster feature that allows auto contributions based on defined criteria.

We offer a Mobile App to allow you to manage your account on the go. We also offer E-gifting option to set up and run gifting campaigns for the beneficiary.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the ABLE plan may allow for different levels of account access for the owner and Authorized Legal Represenative.

Recertification of disability policy: The account owner or Authorized Representative is asked to notify the program if their eligibility changes.

 

Where can I find the ABLE Plan’s investment performance information? https://www.alabamaable.gov/hi

 

Description of plan’s Recertification of ABLE Eligibility Policy: Certification is completed via self attestation at the time that the account is opened. An account holder attests that they willnotify the Program if eligibilty status changes.

 

The plan has a mobile app on both Andriod and IOS, ability to direct deposit payroll deductions or SSA benefits, and there is also a savings booster program.

 

There are no restrictions on the number of disbursements you can make from your ABLE account. However, please note that withdrawals to ABLE cards are subject to a daily limit of $5,000 and a monthly limit of $20,000.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, we follow the Final IRS Regulations regarding who can serve as Authorized Legal Representative. See here for more information: https://www.washingtonstateable.com/alr-info

Does your plan allow for proper account titling for a representative payee? ABLE accounts allow for both the beneficiary’s and the Authorized Legal Representative’s (including Representative Payee) name.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Funeral and burial expeses are Qualified Disability Expenses.

Does your plan allow for naming any beneficiary on the account? Yes, we allow for Successor Owners of the account for siblings with disabilities of the account owner. We are also establishing a process to name beneficiaries that do not qualify as Successor owners on the account.
Alaska /state-review/alaska/ Alaska ABLE Program (click to open an account) Phone 1.888.609.8871 https://savewithable.com/ak/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 6 Target Risk Options with Underlying Investments managed by BlackRock, Schwab, Vanguard, Capital Group-American Funds, and Sallie Mae Bank. Fifth Third Bank provides the 7th Investment Option, a Checking Account Option, that invests 100% of its assets in an FDIC-insured checking account. Yes No  Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No

Legislative Summary HB 188

 

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Alaska. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Alaska. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance of greater than $250, or if enrolled in E-delivery

Please See Plan Disclosure Documents

 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Alaska. $0

Alaska is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Alaska savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery.  The Alaska ABLE Program is available to both in-state and out-of-state residents.  Anyone can contribute to an Alaska ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Please See Plan Disclosure Documents

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
Arizona /state-review/arizona/ AZ ABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://az-able.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Arizona. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes Arizona residents and taxpayers may deduct the amount of their contributions to an ABLE account from their Arizona adjusted gross income to the extent the contributions were not deducted in computing Federal adjusted gross income. Annual contributions made to the AZ ABLE program up to and including two thousand dollars ($2,000) per beneficiary for a single individual or a head of household, and up to four thousand dollars ($4,000) per beneficiary for a married couple filing a joint return or not exceeding four thousand dollars ($4,000) per beneficiary for a married couple filing separate returns, shall be subtracted in determining Arizona adjusted gross income pursuant to SB1844 amending A.R.S. §43-1022.

HB2388 is the legislation that establishes the Arizona ABLE Act program, AZ ABLE

 

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative. Yes 25 $0 $0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Arizona residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account?  Yes, the STABLE Visa Cards offer different levels of spending control for the STABLE account owner and/or authorized legal representative. 

The plan’s investment performance can be found here: https://az-able.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an organization, the account is set up with the organization as the administrator with an agent to act on behalf of the organization.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Arkansas /state-review/arkansas/ Arkansas ABLE (click to open an account) Phone: (888) 609-8874 https://savewithable.com/ar/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. Yes Yes, subject to federal and state probate laws. Yes Arkansas taxpayers can deduct $5K if filling as individual and $10K if filing jointly. This deduction only applies to contributions made to Arkansas ABLE Accounts. Consult with a Tax Preparer to discuss your tax matters.

Arkansas Acheiving A Better Life Experience Act

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Arkansas. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery Yes 0 The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Arkansas. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Arkansas. $0

Arkansas savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery.  The Arkansas ABLE Program is available to both in-state and out-of-state residents.  Anyone can contribute to an Arkansas ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

 

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? See Plan Disclosure Document

 

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? See Plan Disclosure Document
California /state-review/california/ CalABLE (click to open an account) Phone: 1.833.225.2253 https://calable.ca.gov/ Open for Enrollment Vestwell State Savings, LLC effective August 21, 2023 Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Bank of New York Mellon (BNY Mellon) 8 Vanguard, Fidelity, Schwab, BNY Mellon Yes, the ABLE plan True Link Cards offer different levels of spending on qualified disability expenses and tracks QDEs for the ABLE account owner and authorized legal representative. No If a bank account has been added or changed recently, there is a holding period before withdrawals can be made to that account. For bank accounts connected via Plaid, the holding period is typically 5 business days. For manually connected bank accounts, the holding period is typically 10 business days. Address Changes for Check Withdrawals: For security purposes, recently changed or added addresses cannot be used to receive check withdrawals. The exact waiting period may vary depending on the plan. You can make withdrawals of at least $5 at any time online. A transfer can take 2-5 business days to complete, depending on how the money is allocated. You can request a check( opens in a new window ) to be sent to you or a third-party payee. The check should arrive in 5-7 business days. Yes Subject to Federal and state probate laws. Medi-Cal will not file a claim directly on the ABLE account. However, the state may recover on assets that have transferred from an ABLE account to an estate. In these cases, Medi-Cal will recover only if ALL of the following apply: 1) The deceased Medi-Cal member was aged 55 or older; 2) The member leaves an estate that is subject to formal probate. Under current law, only estates that exceed $150,000 (on Jan 1, 2020 this increases to $166,250) in value are subject to formal probate; 3) The member received nursing facility services or home and community based services, including related hospital and prescription drug services; 4) The member is not survived by a spouse of registered domestic partner, child under 21 years of age, or disabled child of any age. Recipients of the estate may also apply for a hardship waiver against recovery on all or part of the estate. Recovery is limited to the amount of payments made for the services listed above (including managed care premiums) or the value of the estate, whichever is less. California Welfare and Institutions Code 4885(b), along with Center for Medicaid and Medicaid Services SMD# 17-002 “RE: Implications of the ABLE Act for State Medicaid Programs.”  Direction to states on recovery of ABLE accounts can be found on page 7. No

Assembly Bill 449 (2015) implements the federal ABLE Act in California

*AB-339 Qualified ABLE Program: age limit (Irwin)*AB-339 Qualified ABLE Program: age limit (Irwin)

 Yes Account assets in the FDIC-Insured Portfolio are 100% invested in an interest -bearing custodial account at the Bank of New York Mellon and are FDIC insured up to $250,000, subject to certain FDIC limits and restrictions. Yes 25 Yes 1 Yes The annual fee for a CalABLE account is $30, which is deducted in quarterly installments directly from the account. Additionally, there are low fees on the underlying investment options and a state administrative fee. No There are no restrictions on the number of withdrawals that can be taken. There are no fees with withdrawals taken by check or ACH. Yes $2.50 per month (currently waived) Yes 0 $30 per year withdrawn in 4 quarterly installments. There is no fee for requesting a check to be sent to you or a third-party payee.

https://calable.ca.gov/historical-performance

 0 There are no fees for electronic statements. For those who opt for paper statements, the fee is $10 ($2.50 assessed quarterly) There is no charge for withdrawals.

Entity Enrollments and online Entity Account Management
– Unique gifting solution that allows family and friends to contribution via ACH,
– Debit Card, and Checks
– Direct Deposit of SSA Benefits or Payroll
– Authorized Users
– CalABLE Mobile App
– Supports 20 languages

Description of plan’s Recertification of ABLE Eligibility Policy:

To maintain eligibility for a CalABLE account, beneficiaries must meet the qualifying criteria for an ABLE account. If, in the future, the beneficiary no longer experiences an eligible disability, they will no longer qualify for an ABLE account. In such cases, the beneficiary must update their eligibility status in the account settings or contact customer service.

Once deemed ineligible, the account can still be used until the end of the year, but only withdrawals will be allowed after that. Please note that there may be tax consequences or impacts on federal benefits associated with this change.

For more information on eligibility criteria, you can visit CalABLE Eligibility.
https://calable.ca.gov/how-it-works/eligibility

 

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, Beneficiaries or Authorized Legal Representatives can appoint one or more Authorized Users to an Account. Authorized Users can be assigned a variety of permission levels on an Account, from view-only access up to transactional access. Authorized Users may only access an Account from within the Plan’s online account portal. Regardless of the permission level assigned, Authorized User capabilities are limited. Authorized Users cannot add or remove bank accounts, cannot close, transfer, or initiate an outgoing Rollover, and cannot edit Account information, among other limitations.

 

Are there additional disbursement fees? There are no fees or restrictions on the number of disbursements allowed from a CalABLE account as long as withdrawals are use to pay for Qualified Disability Expenses of the Beneficiary. Re-issue of Disbursement Check Fee $15

Can you rollover the balance of a CalABLE account to another plan? Yes, you can roll over your ABLE account to another ABLE program. However, you are limited to one rollover every 12 months. The entire amount in the other state’s qualified ABLE program account can be rolled over.

Is there a fee to rollover funds from a 529 Qualified Tuition Plan to ABLE? There is no specific fee mentioned for rolling over a 529 College Savings Plan into a CalABLE account. However, rollovers are subject to the annual contribution limit and lifetime contribution limit, with a $20,000 rollover limit (less any current tax-year CalABLE contributions).

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes. The relationship of the Authorized Legal Representative is identified at the time the account is created or updated. The ALR certifies that they are the appropriate person to manage the account.

 

 
Colorado /state-review/colorado/ Colorado ABLE (click to open an account) Phone: 1-888-609-3468 https://www.coloradoable.org/ Open for Enrollment Ascensus Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. The checking account option is provided through Fifth Third Bank, NA 6 Vanguard Yes No Contributions made by check, recurring contribution, or EFT to the checking account option will be available for withdrawal after six business days. Contributions to the investment options made check, recurring contribution, or EFT will be available for withdrawal after 5 business days. There will be a hold of 10 business days on withdrawal requests when there is a change of address. No Yes You can deduct your contributions on the Colorado State Taxes if you use the ColoradoABLE account. Other states' ABLE plans are not eligible for the Colorado state deduction. The act extends the achieving a better life experience state income tax deduction (ABLE deduction) until December 31, 2030.

HB 1359

 Yes The Fifth Third Bank, NA checking account is FDIC Insurance up to $250,000, subject to certain restrictions. Yes 25 Yes 25 Yes The quarterly account maintenance fee of $14.50 for paper statement delivery ($58 annually) is reduced to $8.25 quarterly ($33 annually) for accounts that receive electronic statements. Yes Two free withdrawals per month, $1 for each additional withdrawal. Yes $2.00 a month checking fee, unless the client is signed up for electronically delivered statements or have a average monthly balance of $250. Yes 25 The quarterly account maintenance fee of $14.50 for paper statement delivery ($58 annually) is reduced to $8.25 quarterly ($33 annually) for accounts that receive electronic statements. $2 monthly Charge. The fee is waived if your account has an average daily balance of $250 or if you sign up for electronic delivery of statements. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250 or if enrolled in electronic statement delivery.

https://coableonline.com/coabletpl/fund/pricePerformance.cs

 25 The paper delivery of statements is $6.25 per quarter, it can be waived with electronic delivery of statements. $2 monthly fee is associated with utilizing the debit card option. However, the fee can be waived with an average daily balance over $250.

Colorado account owners benefit from powerful oversight, high-quality plan features and low-cost, strong-performing investments.  Account owners have access to an exclusive, fully integrated Fifth Third, FDIC-insured checking account option, which is available with a real-time debit card and check-writing capability.  The ColoradoABLE plan is available to both in-state and out-of-state residents, and Illinois taxpayers who contribute to ColoradoABLE accounts can take a deduction from state income taxes.  Anyone can contribute to a ColoradoABLE account, and the easy-to-use Ugift feature makes gift contributions easy.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the ABLE plan may allow for different levels of account access for the owner and Authorized Legal Represenative through the debit card option.

 

Description of plan’s Recertification of ABLE Eligibility Policy: On the opening date anniversary each year, the account administrator is asked by our system to recertify the ABLE account:  We do not accept deposits or issue disbursements on the account until the recertification is complete.  We also offer a paper form to be completed for those without internet access or the inability to use the system.

ATM fee: $2.00 for each transaction outside of network.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the rep payee is an individual, they set the account up with themselves as the administrator and the disabled person as the account owner. If the rep payee is an individual, they set the account up with themselves as the administrator and the disabled person as the account owner.  If the rep payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity and the disabled person as the account owner.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner/disabled person, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding medical or funeral final expenses.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, a check is requested payable to the estate of the account owner/disabled person.

Does your plan allow for naming any beneficiary on the account? No, upon death a sibling can be named a successor owner if they are disabled.
Connecticut /state-review/connecticut/ ABLE CT (click to open an account) Phone: 1 (888) 609-3268 https://savewithable.com/ct/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. Yes Connecticut offers a state income tax deduction to Connecticut residents for ABLE CT contributions, up to $5,000 for single filers and up to $10,000 for joint filers.

Enabling Connecticut Legislation: PA 15-80—sHB 6738

Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E- delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account.

Please See Plan Disclosure Document

 0 The Annual Account Maintenance Fee is $56.00 reduced to $31.00 for E- delivery of statements and confirmations for in-state and out-of-state Account Owners. 0

Connecticut is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Connecticut savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery.  The Connecticut ABLE Program is available to both in-state and out-of-state residents.  Anyone can contribute to an Connecticut ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Please See Plan Disclosure Booklet

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet

 
Delaware /state-review/delaware/ DEPENDABLE (Click to open an account) 1 (888) 609-8914 https://savewithable.com/de/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 6 Target Risk Options with Underlying Investments managed by BlackRock, Schwab, Vanguard, Capital Group-American Funds, and Sallie Mae Bank. Fifth Third Bank provides the 7th Investment Option, a Checking Account Option, that invests 100% of its assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Yes Delaware tax payers can subtract up to $5,000 ($10,000 for spouses filing jointly) from their federal adjusted gross income on their state income tax return. The deduction applies only to contributions made to a Delaware Achieving a Better Life Experience (ABLE) account.

Delaware Achieving a Better Life Experience Savings Accounts

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Delaware. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Delaware. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250, or if enrolled in electronic statement delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Delaware. $0

Dependable is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Delaware savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery.  The Dependble ABLE Program is available to both in-state and out-of-state residents.  Anyone can contribute to an Dependable ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Please See Plan Disclosure Documents

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? See Plan Disclosure Document

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? See Plan Disclosure Document
District of Columbia /state-review/district-columbia/ DC ABLE (click to open an account) Phone: 1 (888) 609-3458 https://savewithable.com/dc/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No

Legislative Summary B21-0252

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of D.C.. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of District of Columbia. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.
Plan’s Investment Performance Report
0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of District of Columbia. 0

DC ABLE is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. District of Columbia savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery.  The DC ABLE Program is available to both in-state and out-of-state residents.  Anyone can contribute to a DC ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

ABLE Disclosure Plan Documents

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Document

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Document
Florida /state-review/florida/ ABLE United (click to open an account) Phone: 1-888-524-2253 https://www.ableunited.com/ Open for Enrollment Vestwell State Savings, LLC No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Florida. BNY Mellon 8 BlackRock, Inc. BNY Mellon The Vanguard Group, Inc. Florida PRIME Yes No Up to 5 days for first party deposits, 20 business days for third party deposits Yes Subject to Federal and state probate laws. No There is no state income tax for residents of Florida.

Florida Achieving a Better Life Experience (ABLE) Act

 Yes FDIC insurance generally protects up to $250,000 of your deposits at the same bank in the same ownership right and capacity. Your ABLE Account invested in the FDIC Savings Fund, taken together with other deposits you hold in a single ownership basis at the Bank of New York Mellon, will be insured up to $250,000. Yes 25 Yes 5 No No Yes $2.50 per month Yes 0 $0 $0 $2.50 per month 0 If you choose to opt out of electronic statements, there is a $20 per year fee for paper statements. Prepaid debit card has a $2.50 monthly fee that is deducted from the prepaid card balance monthly.

Florida ABLE, Inc. (d/b/a ABLE United) a registered not-for-profit and direct support organization of the Florida Prepaid College Board that administers the ABLE United Program. ABLE United offers a unique gifting page that allows family and friends to contribute online via ACH or debit card. ABLE United is very active in the community and a complete list of events can be found at https://www.ableunited.com/events/

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the ABLE plan True Link Cards offer different levels of spending on qualified disability expenses for the ABLE account owner and authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? https://www.ableunited.com/save/investment-performance/

Generally, the Program considers an individual is eligible until otherwise notified. Noted Terms and Conditions found in the Program Description and Participation agreement, www.ableunited.com/pdpa, can be found below:

1.13 “Certification” means a verification made under penalties of perjury by a person authorized to make such a verification.

1.18 “Disability Certification” means the same as that term is defined in Section 529A of the Code. A Disability Certification is made by the Administrator, under penalties of perjury, confirming that the Beneficiary meets the requirements for an Account and must include any additional documentation required by the IRS.

2.04 Eligibility to Allocate or Deposit Contributions to the Account.
(a) The Program considers the Certification that the Beneficiary is an Eligible Individual to be valid until the end of the calendar year in which a change in the Beneficiary’s condition occurred.
(b) The Administrator is responsible for promptly notifying the Program of any changes in the Beneficiary’s condition that would result in the Beneficiary failing to satisfy the definition of Eligible Individual. An Administrator’s notice will be considered prompt if the Program received the notice in the calendar year in which the Beneficiary’s condition changes.

10.04 Termination Due to Misrepresentation or Failure to Promptly Report Changes in the Beneficiary’s Condition.
(a) The Program may involuntarily terminate an Account if a material misrepresentation is made in the Application, Request, communication, or maintenance of the Account by the Beneficiary or Administrator. A material misrepresentation includes, but is not limited to, providing an invalid Taxpayer Identification Number or providing a false Certification that an individual is an Eligible Individual or a Member of the Family of the Beneficiary.

7.06 Penalty Due to Misrepresentation or Failure to Promptly Report Changes in the Beneficiary’s condition. A nonrefundable penalty of up to $250 or 100 percent of the Account Balance, whichever is less, may be assessed if the Account is terminated pursuant to Paragraph 10.04.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Based on the final IRS regulations, there is an expansion on who may open and manage the account on behalf of the Beneficiary. This includes: the Beneficiary of an ABLE account who has legal capacity selecting an Account Administrator to manage their ABLE account, or the Beneficiary’s agent under a power of attorney, conservator or legal guardian, the spouse, a parent, a sibling, a grandparent, or a representative payee (whether an individual or organization) appointed by the Social Security Administration (SSA), in that order.

Does your plan allow for proper account titling for a representative payee? Accounts that have an individual managing it on behalf of an owner, are title as below (John Doe as the Owner and Jane Doe as the Authorized Legal Representative: John Doe Jane DOE ALR.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? In general, accounts are frozen when notified that an owner has passed to prevent additional contributions. Funds may be requested to withdrawn to pay for outstanding QDEs. Upon notification that there are no additional outstanding QDEs, the program will wait for direction form a Personal Representative or court order on how to disseminate the remaining balance including distribution to a successor owner or to their estate.

 
Georgia /state-review/georgia/ Georgia STABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://www.georgiastable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Georgia. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No No

. O.C.G.A §§ 30-9-1 through 30-9-16 establish the rules for Georgia STABLE

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month; The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Georgia residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information?

The plan’s investment performance can be found here: https://georgiastable.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? Yes, if the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an organization, the account is set up with the organization as the administrator with an agent to act on behalf of the organization.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Guam /state-review/guam/ Guam ABLE Savings Program Call (671) 477.2724 https://disid.guam.gov/wp-disid-content/uploads/2025/03/2025-Guam-ABLE-Savings-Program-ASC-Trust.pdf Open for Enrollment ASC Trust No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Guam. 5

https://law.justia.com/codes/guam/title-11/division-2/chapter-53/

Guam enrollment form is reviewed on a weekly basis: https://disid.guam.gov/wp-disid-content/uploads/2025/03/FINAL-Guam-Able-Savings-Program-full-enrollment-form.pdf
Hawaii /state-review/hawaii/ Hawaii ABLE Savings Program (click to open an account) Phone number: 1-844-394-2253 http://www.hawaiiablesavings.com/ Open for Enrollment Vestwell Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. BNY Mellon 4 Vanguard and DFA Yes No  5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions No

Hawai’i State Legislature enacted chapter 256B, Hawai’i Revised Statutes, to allow for the establishment of the Hawai’i ABLE Savings Program.

 

 Yes BNY Mellon FDIC Insured account up to $250,000. Yes 25 Yes 10 Yes $35 per year. No Yes $1.25 per month. Yes 0 $35 per year. NA $1.25 per month

https://www.hawaiiablesavings.com/historical-performance

 0 No fee for electronic statements. $10 annually for mailed paper statements. $0

From the very beginning, Hawai’i ABLE was designed to be a self-empowerment tool for people with disabilities. We always presume competence while making sure you have access to any supports you need. Our program was created with the support of people with disabilities and the organizations that serve them.

The State Council on Developmental Disabilities, will meet one on one with individuals who need assistance with opening an account

Description of plan’s Recertification of ABLE Eligibility Policy: The account owner or ALR is responsible for letting the plan know if they are no longer eligible for ABLE. We do not require an annual recertification process.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes. Where possible, we would like to help the person with the disability open and manage their own ABLE account. If they are not able to or would like someone else to manage the account we allow for people to serve as Authorized Legal Representatives. Please visit this page for more information: https://www.hawaiiablesavings.com/alr-info

Does your plan allow for proper account titling for a representative payee? Our ABLE plan allows for representative payees to properly manage the account as Authorized Legal Representative.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Funeral and burial expeses are Qualified Disability Expenses.
Idaho /state-review/idaho/ Idaho ABLE Savings Plan (click here to open account) Phone: 1-800-439-1653 from 9am-8pm ET. https://idahoable.com/ Active Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Idaho. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No

Idaho Code § 56-708 established the Idaho ABLE Savings Plan

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. the STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 0 0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic 0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Idaho residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

 

  • Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative.
  • Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://idahoable.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficiary may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Illinois /state-review/illinois/ Illinois ABLE (click to open an account) Phone: 1 (888) 609-8683 https://illinoisable.com/ Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. Yes Subject to Federal and state probate laws. Yes Illinois taxpayers can deduct $10K if filling as individual and $20K if filing jointly. This deduction only applies to contributions made to IL ABLE accounts. Consult with a tax preparer to discuss your tax matters.

Required by Federal Law: Executive Officers (15ILCS 505/) State Treasurer Act

 

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250, or if enrolled in electronic statement delivery.

Please See Plan Disclosure Documents

 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). $0

Illinois is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Illinois savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Illinois ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Illinois ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Please See the Plan Disclosure Documents

Beginning with the 2023/24 school year, IL ABLE information will be shared by Illinois schools with Illinois families at their students’ annual Individualized Education Program (IEP) meetings.

 

 

 
Indiana /state-review/indiana/ INvestABLE Indiana (click to open an account) Phone: 1 (888) 609-3457 https://savewithable.com/in/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Yes Starting January 2024, Indiana taxpayers can claim a stand-alone credit for contributions to ABLE accounts. To qualify for the tax credit*, you must meet the following criteria: Be entitled to a credit against adjusted gross income tax equal to at least one of the following: 20% of the total contributions made to an INvestABLE Indiana 529A savings plan during the taxable year, $500 or, The amount of the taxpayer's adjusted gross income tax for the taxable year, reduced by the sum of all allowable credits.

Legislative Summary SB 11

Legislative Summary SB 184

Legislative Summary HB 1407

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance of greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. $0

Indiana is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Indiana savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Indiana ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Indiana ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Please See ABLE Plan Performance Document

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please See ABLE Plan Disclosure Documents

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please See ABLE Plan Disclosure Documents
Iowa /state-review/iowa/ IAble (click to open an account) Phone: 1 (888) 609-8910 https://www.iable.gov/ Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Yes Iowa taxpayers can take a state income tax deduction for their IAble contributions. In 2026, the amount is up to $6,100, which is adjusted annually for inflation. The deduction is not limited to the Account Owner or Authorized Individual. Instead, any taxpayer who makes a contribution is entitled to the deduction.Taxpayers may not deduct: amounts contributed by another person; OR amounts contributed to an ABLE account administered by another state.

Iowa Able Savings Plan Trust, Iowa Code 12I

 

 

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.
Please See Plan Disclosure Booklet
0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. $0

Iowa is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Iowa savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Iowa ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Iowa ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

How ABLE funds may be used to pay Qualified Disability Expenses ( QDEs) upon the death of the Account Owner? QDEs can be paid to the estate, or in the case of funeral and burial to the funeral home, after the death of an account owner.

Please See Plan Disclosure Booklet

 

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
Kansas /state-review/kansas/ Kansas ABLE Savings Plan (click to open an account) Phone: 1 (888) 609-8919 https://savewithable.com/ks/home.html Open for Enrollment Fifth Third Bank Yes $20,000; This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions. An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. Yes Subject to Federal and state probate laws. See disclosure document. Yes Kansas taxpayers can deduct up $3,000 per individual/$6,000 per couple. This deduction only applies to contributions made to KS ABLE accounts. Consult with a Tax Preparer to discuss your tax matters.

Legislative Summary

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Kansas. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Kansas. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250, or if enrolled in electronic statement delivery.

Please See Plan Disclosure Documents

 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Kansas. 0

Kansas is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Kansas savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Kansas ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Kansas ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Please See ABLE Plan Disclosure Documents
 

Plan’s Investment Performance Report
Kentucky /state-review/kentucky/ STABLE Kentucky (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://www.stablekentucky.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Kentucky. Bank of New York Mellon 4 Vanguard Yes No Yes.   1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No No

Kentucky Revised Statutes § 205.200 establishes the rules for STABLE Kentucky

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Kentucky residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

The plan’s investment performance can be found here: https://stablekentucky.com/historical-performance

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee?

If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.

 
Louisiana /state-review/louisiana/ Louisiana ABLE Account Program (click to open an account) Phone: 1-800-259-5626 Ext #2 https://www.able.osfa.la.gov/ Open for Enrollment Louisiana Office of Student Financial Assistance (LAOSFA) and Louisiana Tuition Trust Authority (LATTA) No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Louisiana. Chase Bank 9 Vanguard Inc: “ABLE accounts will be subject to investment risks, including loss of the principal amount invested.” No No 3 business day float on non-guaranteed funds. No No

HOUSE BILL NO. 598 ACT NO. 411
HOUSE BILL NO. 833 ACT NO. 93

HOUSE BILL 598 Legislative Summary

HOUSE BILL 833 Legislative Summary

 

 No Yes 10 Yes 10 No Yes The account may have two disbursements per month of at least $200 each. No Yes 0 $0 $0 $0

 

Investment Performance: https://www.able.osfa.la.gov/Common/Docs/ABLE_Investment_Performance_Report.pdf

 0 $0 $0

LA does not charge administrative fees to the owners. They only incur the basis point fees from Vanguard.

Payments can be mailed or wired to the account administrator. We do not have the debit card option available.

Does your plan allow for different Levels of Control for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?  No

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee?
• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name). If the rep payee is an individual, they set the account up with themselves as the administrator and the disabled person as the account owner.  If the rep payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity and the disabled person as the account owner.

 

The ABLE Act was passed on 5/16/14 as Act 93 (HB 833), prior to the federal passage of the ABLE Act in December 2014. HB 598 was signed into law as Act 411 on 7/1/15 to amend Act 93.

Do you have a policy for opening an account for those who have term guardianship, personal guardianship or financial guardianship/conservator? Yes , during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner/disabled person, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding medical or funeral final expenses.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, a check is requested payable to the estate of the account owner/disabled person.

Does your plan allow for naming any beneficiary on the account?  A beneficairy may be named within the account. Upon the death of the ABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. The account can be transferred to a disabled sibling of the account owner. The final payment can also be sent to the estate of the account. If none of the options listed above are selected, the balance of the account will then be sent to Disabled Services.
Maine /state-review/maine/ ABLE ME (click to open an account) Phone number: 1.877.226.4671 https://www.bangor.com/personal-banking/checking/able-home/ Open for Enrollment Maine State Treasurer No $20,000 currently (This limit is a Federal limit that applies to all 529(A) Programs and is subject to change. It does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Maine. Bangor Savings Bank 0 Not Applicable, the only deposit instrument is a transactional checking account. Yes No Ability to withdraw funds that have been deposited into a Maine ABLE Benefit Checking® Account are determined by the Funds Availability Disclosure section of the Important Information About Your Account Booklet. Yes Yes, subject to federal and state probate laws. No

LD 1881

and LD 1637

 Yes The standard maximum deposit insurance amount is currently $250,000 per individual depositor, per insured bank, for each account ownership category. Yes 25 No No No Yes $0 Yes 0 $0 Varies based on design $0

N/A

 0 $0 $0

Self-attestation enrollment process. Recently modified IRS regulations regarding how the distribution of ABLE earnings must be handled aligns with the operating processes and systems of investment houses, not banks. As a result the ABLE ME Program cannot include earnings, and instead focuses on benefits such as protection of principal, easy access, and service charge free checking. ABLE ME focuses on a specific advantage of the ABLE act: being able to accumulate resources beyond means-tested benefit limits without jeopardizing eligibility for necessary public benefits. Unlike other Programs, ABLE ME:

  • Includes access to our statewide branch network for in-person customer service
  • Does not offer market-driven investment options
  • Is non-interest bearing
  • Can only accept rollovers without earnings from another State’s 529A Qualified ABLE Program or 529 Qualified Tuition Program
Maryland /state-review/maryland/ Maryland ABLE (click to open an account) Phone: 1. 855.563.2253 https://www.marylandable.org/ Open for Enrollment to residents of any U.S. state. Vestwell Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. The Bank of New York Mellon 13 Fidelity Yes No Initial and subsequent contributions received from a Beneficiary or ALR following a new enrollment will be held for five (5) Business Days before funds are available for withdrawal. Contributions made as a gift from a third party may be held for up to 10 Business Days to ensure that the funds are received before the funds are available for withdrawal. Yes Subject to federal and state probate laws. "Yes. The provisions of Maryland HB 782/SB 550 section 18–19C–10 reads as follows: Unless prohibited by Federal law, on the death of a designated beneficiary, money and assets in an ABLE account may be transferred to: (1) The estate of the designated beneficiary or (2) An ABLE account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary. (b) Unless required by Federal law, an agency or instrumentality of the state may not seek payment under § 529a(f) of the internal revenue code from an ABLE account or its proceeds for any amount of medical assistance paid for the designated beneficiary. Section 2: And be it further enacted that this act shall take effect June 1, 2018." Yes $2,500 of contributions per contributor and $5,000 for joint filers, per ABLE account may be subtracted from the gross wages of the filer prior to computing Maryland taxable income for Maryland state income tax payers (with a 10 year carry forward of contributions that excess contributions).

HB431, Maryland Achieving a Better Life Experience (ABLE) Act – Establishment

 Yes The Stable Option has an overall exposure of 80% stable value funds and 20% FDIC insured bank deposits. The Income Option has an overall investment exposure of 10% stocks, 25% bonds, 50% stable value funds and 15% FDIC insured bank deposits. The Conservative Option has an overall investment exposure of approximately 20% stocks, 34% bonds, 35% stable value funds, and 11% FDIC insured bank deposits. The Moderate Option has an overall investment exposure of approximately 50% stocks, 40% bonds, 7% stable value funds, and 3% FDIC insured bank deposits. The Target Year Option invests in different combinations of stocks, bonds, stable value funds, and cash or cash equivalents. The allocations automatically adjust to become more conservative as the target year approaches. Yes 25 Yes 5 Yes An annual Account Maintenance Fee of $25 is broken into quarterly installments and deducted from the account at the end of each quarter. The amount billed will be prorated for the calendar quarter during which you open your ABLE Account. Each quarter after that you will be billed $6.25. No Yes $0 The ABLE plan True Link Card offers easy access to ABLE funds and tracks QDEs for the ABLE account owner or Authorized Legal Representative. Yes An annual Account Maintenance Fee of $25 is broken into quarterly installments and deducted from the account at the end of each quarter. The amount billed will be prorated for the calendar quarter during which you open your ABLE Account. Each quarter after that you will be billed $6.25. $2.50 per Paper Check Disbursement The ABLE plan True Link Card offers easy access to ABLE funds and tracks QDEs for the ABLE account owner or Authorized Legal Representative.

Maryland ABLE Investment Performance

 0 Online and email statements available at no additional cost. Annual fee of $20 , charged quarterly and prorated, is charged for requests to mail paper statements and all other documents. 0

The plan has a mobile app on both Android and IOS, ability to direct deposit payroll deductions or SSA benefits, and there is also a savings booster program.

Can I roll my Maryland ABLE account to another plan? Yes, subject to the standard annual contribution limit LESS the contributions made to the ABLE account for the current tax year.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, an Authorized Legal Representative (ALR) can be appointed to a beneficiary who is not able to give consent based on the following hierarchy: Power of Attorney, conservator or legal guardianship, spouse, parent, sibling, grandparent, or a Representative Payee for the eligible individual by the Social Security Administration.

Maryland ABLE offers direct deposit for Social Security funds for account owners who have a representative payee. There is also a savings booster feature that allows auto contributions based on defined criteria. Convenient account and True Link Prepaid card management through Vestwell and True Link mobile apps.

Does your plan allow for proper account titling for a representative payee? Yes. If the rep payee is an individual, they set the account up with themselves as the administrator and the person with the qualifying disability as the account owner/beneficiary.  If the rep payee is an organization, the account is set up with the organization as the authorized legal representative with an agent to act on behalf of the organization and the account owner/beneficiary.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Beneficiaries or Authorized Legal Representatives can appoint one or more Authorized Users to an ABLE Account. Authorized Users can be assigned a variety of permission levels on an ABLE Account, from view-only access up to transactional access.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? An Authorized Legal Representative (ALR) can be appointed to a beneficiary who is not able to give consent based on the following hierarchy: Power of Attorney, conservator or legal guardianship, spouse, parent, sibling, grandparent, or a Representative Payee for the eligible individual by the Social Security Administration.

Description of plan’s Recertification of ABLE Eligibility Policy: Certification is completed via self attestation at the time that the account is opened. An account holder attests that they will notify the Program if eligibility status changes.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? The Program provides payments for funeral burial expenses after the death of a beneficiary per IRS regulations upon submission of receipts or bills.

Does your plan allow for naming any beneficiary on the account? A successor designated beneficiary may be listed on an ABLE Account. This individual must be a sibling, stepsibling, or half-sibling of the current owner and must also be an Eligible Individual. Adding a successor designated beneficiary can be done online during enrollment or under account management for an existing account, or by submitting the Add/Edit/Remove Successor Owner Form. The designation must be made before the designated beneficiary’s death.

Maryland ABLE offers both online and paper enrollment. Account holders can also call and make an appointment to visit our offices for assistance to enroll during normal business hours.

The plan has a mobile app on both Andriod and IOS, ability to direct deposit payroll deductions or SSA benefits, and there is also a savings booster program.

 
Massachusetts /state-review/massachusetts/ The Attainable Savings Plan (click to open an account) Contact: 1-844-458-2253 https://www.fidelity.com/able/attainable/overview Open for Enrollment Fidelity Investments Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. NA 9 Fidelity Investments No No No No

Bill H 3753

 

 No No No 0 No No No Yes 0 $0 $0 $0

Please See Plan Disclosure Document

 0 $0 $0

Attainable is the official ABLE savings plan of Massachusets and sponsored by MEFA and managed by Fidelity Investments

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, we have different access levels for account management.

Investment Performance to Date

Nationally, Fidelity Investments has centers where a customer can open an account in person. A person can open an account at an investment center, online and over the phone.

Here is the link to search for Fidelity investment centers nationally.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, this is covered as a part of the account opening process.

Does your plan allow for proper account titling for a representative payee? Yes:
• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name).

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? We allow for payments for funeral and burial expenses at all stages of the account for individuals.

 
Michigan /state-review/michigan/ MiABLE (click to open an account) Phone: (844) 656-7225 https://savewithable.com/mi/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions. An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Medicaid payback is not specifically waived. However, Medicaid has never requested payback. Yes Michigan state income taxpayers can claim up to a $5,000 deduction for single filers and $10,000 for joint filers for MiABLE contributions.

Michigan ABLE Legislation

 

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. Yes No restriction on the number of disbursements, however there is a $20 disbursement fee for checks, $15 fee for Wires, and no fee for ACH. Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Michigan. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank, NA Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance of greater than $250, or if enrolled in E-delivery 0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No transaction fee, fee for disbursements, $20 for check, $15 for Wire, no fee for ACH.

Michigan is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Michigan savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Michigan ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Michigan ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Investment Performance to Date

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? See Plan Disclosure Document 

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? See Plan Disclosure Document 
Minnesota /state-review/minnesota/ Minnesota ABLE Plan (click to open an account) Phone: 1 (888) 609-8872 https://savewithable.com/mn/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No

Legislative Summary

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Minnesota. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Minnesota. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Minnesota. 0

Minnesota is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Minnesota savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Minnesota ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Minnesota ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please see the Plan Disclosure Documents

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please see the Plan Disclosure Documents
Mississippi /state-review/mississippi/ Mississippi ABLE Program (click to open an account) Phone: 1 (888) 609-3469 https://savewithable.com/ms/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Yes Deduction up to the total amount contributed to a Mississippi ABLE account. Consult with a Tax Preparer to discuss your tax matters.

Mississippi Code Section 43-28-1 et. seq.

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Mississippi. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Mississippi. $0

Mississippi is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Mississippi savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Mississippi ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Mississippi ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
Missouri /state-review/missouri/ MO ABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://www.moable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Missouri. Bank of New York Mellon 4 Vanguard Group Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes Missouri offers an annual state income tax deduction of up to $8,000 for single filers and $16,000 for joint filers

Missouri Revised Statutes §§ 209.605-209.645 establishes the rules for MO ABLE

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. Yes, the STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic 0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Missouri residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://moable.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Montana /state-review/montana/ Montana ABLE (click to open an account) Phone: 1 (888) 609-3461 https://savewithable.com/mt/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No  Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No Yes Montana taxpayers can deduct $3,000 per tax year for contributions to their own account, spouse, or their child. This deduction only applies to contributions made to MT ABLE accounts. Consult with a Tax Preparer to discuss your tax matters.

SB 399 Legislative Summary

HB288 expanded the family members eligible for a tax deduction for contributions to ABLE accounts, and revised requirements for opening an account.

SB207 provides Montana taxpayers the opportunity to direct deposit their State income tax refund into an ABLE account.

 

 

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250, or if enrolled in electronic statement delivery.

Please See Plan Disclosure Documents

 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). $0

Montana is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Montana savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Montana ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Montana ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information? Please See ABLE Plan Disclosure Documents

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
Nebraska /state-review/nebraska/ Enable Savings Plan (click to open an account) Phone: 1.844.362.2534 https://www.enablesavings.com/ Open for Enrollment Ascensus Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Firth Third - Checking; NexBank - Savings Option 6 Vanguard Yes No 5-6 business days after contribution and 10 business days for change of address or account holder No Yes $10,000 ($5000 if married, filing separately) of contributions are deductible for Nebraska individual income tax purposes.

Nebraska State Statute § 77-1401 implements the federal ABLE Act in Nebraska

 

Medicaid Recapture Policy

 Yes FDIC insurance is provided for the Bank Savings and Checking option up to $250,000 subject to certain restrictions. Yes 50 Yes 25 Yes If electronic delivery is chosen, the annual account fee is $40, payable at $10/quarter. If paper delivery is preferred, the annual account fee is $50, payable at $12.50/quarter. No Yes $0; The Enable plan offers a debit card that accompanies the checking investment option. Yes 0 If electronic delivery is chosen, the annual account fee is $40, payable at $10/quarter. If paper delivery is preferred, the annual account fee is $50, payable at $12.50/quarter. $6.00 for a starter box of checks; $2 monthly service charge, but this can be waived if the account owner has a monthly average balance of at least $250 and/or chooses electronic statement delivery. $0

Please See Plan Disclosure Document

 0 The quarterly statements are included in the annual fee. There is no addition fee for those. For the checking option statements, $2.00 per month, unless set up for electronic statement or maintain an average monthly balance Checking Investment Option of $250 If using the checking option for withdrawals, $2 monthly service charge, but this can be waived if the account owner has a monthly average balance of at least $250 and/or chooses electronic statement delivery. There are no fees to withdraw from other investment options. ATM fee: $2.75 for each transaction outside of network, $5.00 for international ATM transactions

Visit EnableSavings.com for more information

The Plan offers six investment options to best suit your needs; 6 (Checking, Savings, 4 target-risk investment options): Aggressive, Growth, Moderate, and Conservative; a Bank Savings option; and a Checking Investment option that comes with an optional free debit card. Nebraska residents that contribute to an Enable Savings Plan account are elligible for a Nebraska State tax deduction. Gifts may be made to an Enable Savings Plan account through a gift contribution coupon or by using the Ugift online gifting service. Nebraska has also created a crowdfunding page that can be used with the Account Owner’s Enable account. Please go to givetoenable.com for more information on the crowdfunding page.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included. Please See Plan Disclosure Documents for more information for more information.

Does your plan allow for proper account titling for a representative payee? If the rep payee is an individual, they set the account up with themselves as the administrator and the disabled person as the account owner.  If the rep payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity and the disabled person as the account owner.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner/disabled person, our staff requests a copy of the death certificate as well as probate docs/small estate affidavit listing the executor (of the AO) and a letter of instruction from the executor providing us with the breakdown of the QDEs (ex. final burial expenses and where to send the proceeds). If there are funds left above those final expenses, a check is requested payable to the estate of the account owner/disabled person.

Does your plan allow for naming any beneficiary on the account? Yes, the Account Owner may name a Successor Account Owner (this person must be eligible for an ABLE account) or a $5k or less inheritor. Please see the program disclosure statement for more information.

 
Nevada /state-review/nevada/ ABLE Nevada (click to open an account) Phone: 1 (888) 609-8916 https://savewithable.com/nv/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No There is no state income tax for residents of Nevada.

Senate Bill No. 419 (2015) – Committee on Health and Human Services

Methods and incentives to encourage contributions to a savings trust account:

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance fee is $56.00  If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00..  The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Nevada. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance of greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Nevada. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Nevada. 0

Nevada is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Nevada savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Nevada ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Nevada ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please See Plan Disclosure Documents

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please See Plan Disclosure Documents
New Hampshire /state-review/new-hampshire/ NH ABLE PLan (click to open an account) Phone: 1-888-609-3263 from 8am-5pm ET https://savewithable.com/nh/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No There is no state income tax for residents of New Hampshire. Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Each Account is charged an Annual Account Maintenance Fee of $56.00, which is assessed and withdrawn from the Account on a quarterly basis. The amount withdrawn from the Account each quarter is $14.00. If Electronic Delivery is established, the Annual Account Maintenance Fee charged to the Account will be reduced to $31.00. The amount withdrawn from the Account each quarter will be $7.75. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account.
Please See Plan Disclosure Booklet
0 Each Account is charged an Annual Account Maintenance Fee of $56.00, which is assessed and withdrawn from the Account on a quarterly basis. The amount withdrawn from the Account each quarter is $14.00. If Electronic Delivery is established, the Annual Account Maintenance Fee charged to the Account will be reduced to $31.00. The amount withdrawn from the Account each quarter will be $7.75. $0

New Hampshire is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. New Hampshire savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The New Hampshire ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an New Hampshire ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Please See Plan Disclosure Booklet

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
New Jersey /state-review/new-jersey/ NJ ABLE (click to open an account) Phone: 1 (888) 609-8869 https://savewithable.com/nj/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No

 

New Jersey ABLE Legislation

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. 0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. 0

New Jersey is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. New Jersey savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The New Jersey ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an New Jersey ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report
Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?

Please See Plan Disclosure Booklet

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Please See Plan Disclosure Booklet
New Mexico /state-review/new-mexico/ ABLE New Mexico (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://ablenewmexico.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of New Mexico. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes $4,000 of contributions are deductible for Ohio individual income tax purposes (with unlimited carry forward)

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes  During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? Yes, if the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an organization, the account is set up with the organization as the administrator with an agent to act on behalf of the organization.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes, a successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, New Mexico residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a no cost loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://ablenewmexico.com/historical-performance

 

 

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

New Mexico HB61 established the rules for ABLE New Mexico.
New York /state-review/new-york/ NY ABLE Savings Program (NY ABLE) (click to open an account) Phone: 855.569.2253 https://www.mynyable.org/ Open for Enrollment Ascensus Broker Dealer Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank, NA 6 Sallie Mae Vanguard Yes No New contributions will not be available for withdrawal for five business days. Contributions into the Checking Option will not be available for withdrawal for six business days. There will be a hold of 10 business days on withdrawal requests following a change to your address and a hold of 15 calendar days on withdrawal requests following a change to your banking information. No No

 

New York Achieving A Better Life Experience Savings Account Act, Article 84 of the New York Mental Hygiene Law

 

 Yes FDIC insurance is available to the Checking Option, Savings Option, and the portions of the Moderate Option, Intermediate Option, and Conservative Option allocated to the Sallie Mae High Yield Savings Account. Yes 25 No 0 Yes If an Account Owner elects electronic delivery notification for statements and confirmations, the quarterly fee is $10.00. If the Account Owner elects paper delivery for statements and confirmations, the quarterly fee is $12.50. No Yes $2 Checking Option Fee- Waived if enrolled in E-delivery or have a balance greater than $250 in the checking option. Yes 0 If an Account Owner elects electronic delivery notification for statements and confirmations, the quarterly fee is $10.00. If the Account Owner elects paper delivery for statements and confirmations, the quarterly fee is $12.50. $6/order Checking Option Fee- Waived if enrolled in E-delivery or have a balance greater than $250 in the checking option

Please See Plan Disclosure Document

 

 0 Account maintenance fee is $10 If an Account Owner elects electronic delivery notification for statements and confirmations, the quarterly fee is $10.00. If the Account Owner elects paper delivery for statements and confirmations, the quarterly fee is $12.50.50 annually or $40 annually if the individual chooses electronic statements. This fee will be taken out of the individual's account on a quarterly basis in the amount of $10 or $12.50. No- other than fees subject to use of the Checking Option/debit card or if someone elects priority check delivery or an outgoing wire.

NY ABLE offers materials in Spanish, including program disclsoure booklet, website, and enrollment form.

Is there an initial minimum deposit to open an account? Yes, $25, $15 if using payroll deduction.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? NY ABLE provides for various levels of control over an account through a customized Power of Attorney form, available on our website.

Where can I find the ABLE Plan’s investment performance information? https://www.mynyable.org/nyabletpl/fund/pricePerformance.cs

 

Description of plan’s Recertification of ABLE Eligibility Policy: It is the responsibility of the Account Owner to notify NY ABLE in writing if they cease to be an Eligible Individual. We will provide annual reminder notices to the Account Owner, their parent or legal guardian, or their Authorized Individual of the responsibility to notify NY ABLE if the Account Owner ceases to be an Eligible Individual.

ATM fee: $3.00 for each transaction outside of network.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Eligible individuals who have legal capacity may open and manage their own accounts; if eligible individuals lack the legal capacity to manage their own accounts, an Authorized Individual can manage the account on their behalf. An Authorized Individual includes, in order of priority, an agent under a power of attorney, conservator or legal guardian, spouse, parent, sibling or grandparent of the eligible individual or a representative payee appointed for the individual by the Social Security Administration.

Does your plan allow for proper account titling for a representative payee?
• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name).

NY ABLE allows for 3 enrollment types: 1. Self-Owned by Account Owner 2. Parent or Guardian of a minor Account Owner 3. Authorized Individual of an eligible Account Owner who · Has legal capacity but has selected an Authorized Individual or appointed an agent under a Power of Attorney to control the account · Lack legal capacity and who has been appointed pursuant to the hierarchy within the IRS’ Final Regulations for ABLE Programs. The hierarchy allows for SSA-appointed Representative Payee and each account is tagged with a sub-type for each hierarchy category.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? The NY ABLE program will process all qualified disability expenses, including funeral and burial expenses.

Does your plan allow for naming any beneficiary on the account? The Account Owner or Authorized Individual may designate a Successor Account Owner to succeed to all rights, title, and interest in the funded Account upon the death of the Account Owner. At the time the change becomes effective, the Successor Account Owner must be an Eligible Individual.

 
North Carolina /state-review/north-carolina/ NC ABLE (click to open an account) Phone: 1-888-627-7503 https://savewithable.com/nc/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No Contributions to the Asset Allocation Investment Options will be held for 5 or 6 business days before becoming available for withdrawal. Contributions to the Checking Account Option will be held for 6 or 7 business days before becoming available for withdrawal. No No

HB 556 Legislative Summary

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank checking account option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for accounts with an average daily balance of greater than $250, or if enrolled in electronic statement delivery. 0 The Annual Account Maintenance Fee is $56.00, reduced to $31.00 for E-delivery of statements and confirmations for in-state and out-of-state Account Owners. $0

North Carolina is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. North Carolina savers and investors can choose among 8 Investment Options, including a Money Market Option and a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The North Carolina ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an North Carolina ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plans’s investment performance information? Please see the Plan Disclosure Documents

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please see the Plan Disclosure Documents

 

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please see the Plan Disclosure Documents

 
North Dakota /state-review/north-dakota/ ABLE Plan for North Dakota (click to open an account) https://bnd.nd.gov/able/ Signed into law - see website for information on how to select an ABLE plan in another state. Bank of North Dakota $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. No No 0
Ohio /state-review/ohio/ STABLE Account (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://stableaccount.com/ Open for Enrollment Vestwell State Savings Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes $4,000 of contributions are deductible for Ohio individual income tax purposes (with unlimited carry forward)

Ohio House Bill 155 implements the federal ABLE Act in Ohio

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 Yes Maybe. $0 per year for Ohio Account Owners and Partner States (AZ, GA, ID, KY, MO, NM, OK, SC, UT, VT, WV, WY). $12 per year payable at $3.00 per quarter for non-Ohio and non-partner state account owners. No Yes $0; $5 per month for some out of state residents. STABLE Visa Card holders are charged a monthly fee of $5.00 for each activated card. STABLE Visa Card holders who are residents of the following States will NOT be charged a monthly fee: • Ohio • Oklahoma • Utah • Vermont • West Virginia The monthly fee will be automatically withdrawn from the Beneficiary STABLE Visa Card balance at the beginning of each month. The STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative. Yes 25 Maybe. $0 per year for Ohio Account Owners and Partner States (AZ, GA, ID, KY, MO, NM, OK, SC, UT, VT, WV, WY). $12 per year payable at $3.00 per quarter for non-Ohio and non-partner state account owners. 0 $0; $5 per month for some out of state residents. STABLE Visa Card holders are charged a monthly fee of $5.00 for each activated card. STABLE Visa Card holders who are residents of the following States will NOT be charged a monthly fee: • Ohio • Oklahoma • Utah • Vermont • West Virginia The monthly fee will be automatically withdrawn from the Beneficiary STABLE Visa Card balance at the beginning of each month. The STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative.

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic 0

The program features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a no cost loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative

Where can I find the ABLE Plan’s investment performance information?

The plan’s investment performance can be found here: https://stableaccount.com/uploads/stable/attachments/cmcko7cv19xvw0iqoa0tr484m-stable-pdb.pdf

 

Annual Fee: Maybe. $0 per year for Ohio Account Owners and Partner States (AZ, GA, ID, KY, MO, NM, OK, SC, UT, VT, WV, WY). $12 per year payable at $3.00 per quarter for non-Ohio and non-partner state account owners.

Does your plan offer an incentive to enroll:  Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes  During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Oklahoma /state-review/oklahoma/ Oklahoma STABLE (click to open an account) Phone 1-800-439-1653 from 8am-7pm CT https://okstable.org/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Oklahoma. Bank of New York Mellon 5 Vanguard Yes, The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set up to help safeguard spending. Custom text or email alerts can notify you of card activity. No  1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes Contributions are deductible up to $10,000 (single filers) or $20,000 (joint filers) annually. Investment earnings grow tax-free when used for qualified disability expenses.

Oklahoma HB 2821 establishes the rules for Oklahoma STABLE

 

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $0. The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set up to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $0

Please See Plan Disclosure Documents

 0 The current account maintenance fee is $20 per year payable at $5.00 per quarter. $0

The Oklahoma STABLE Account is partnered with the Office of the Ohio State Treasurer, a nationally recognized ABLE plan, to provide residents of Oklahoma with access to a simple and flexible savings program. Oklahoma HB 2821 established the rules for Oklahoma STABLE, which officially launched on May 31, 2018.

The program is managed in partnership with Vestwell, offering an intuitive platform that helps individuals with disabilities manage their accounts and work toward financial security. OK ABLE accounts allow funds to be used for everyday needs as well as unexpected expenses. Most expenses are considered qualified disability expenses, which are geared toward improving health, independence, and quality of life. Learn More: Benefits – Oklahoma STABLE

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative. Learn More: ALR Info – Oklahoma STABLE

What if I buy something that doesn’t qualify?  If funds are used for non-qualified expenses, the investment growth portion of the withdrawal will be subject to income tax and a 10% penalty on earnings. Additionally, non-qualified withdrawals may count as income for the month, potentially affecting eligibility for Supplemental Security Income (SSI) benefits or Medicaid. 

Gifting Page OK ABLE also offers a Gifting Page, a unique feature that allows family and friends to contribute directly to an account online. Whether for a birthday, holiday, or just to help a loved one save, a gifting page provides an easy and secure way to grow an ABLE account.

 Can I close and transfer my STABLE account through Oklahoma STABLE to a different ABLE program?

Yes, but you can make only one rollover every 12 months. Use the STABLE Account rollover forms to start the process. If the plan is terminated, the balance of each STABLE account will be paid to the beneficiary to the extent possible, and any unclaimed assets will be handled according to applicable law​. Additionally, if an account has a zero balance for 12 months or more, it may be closed​.

 

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account?
Yes. During the account opening process (online or paper application), the relationship is established based on the response to the hierarchy question included in the application.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

Does your plan allow for naming any beneficiary on the account?
Yes. A successor beneficiary may be named within the account. Upon the death of the ABLE account owner, outstanding qualified disability expenses may be paid. Then, Medicaid recovery rules apply. If there are remaining funds, they will be paid to the successor beneficiary named on the account.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

 

 
Oregon – ABLE for All Savings Plan /state-review/oregon-able-for-all-savings-plan/ Oregon - ABLE for ALL Savings Plan (click to open an account) Phone number: 1-844-999-2253 https://ableforall.com/about Open for Enrollment Vestwell Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. BNY Mellon 4 Vanguard Yes No 5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions Yes Subject to Federal and state probate laws. "In the event of the death of a beneficiary, the funds from their ABLE account can be used by his or her estate to repay any outstanding eligible expenses or funeral and burial costs. Remaining funds will be transferred to the estate of the beneficiary. Due to the passage of Senate Bill 1027 during the 2017 legislative session, Medicaid in Oregon is restricted from filing a claim for a payback on funds that were previously in an ABLE account of a deceased beneficiary. Medicaid payback is governed at the Federal level and, out of an abundance of caution, it is suggested to assume that funds could still be recovered by Medicaid." https://oregonablesavings.com/faqs/2016/11/3/what-happens-to-my-account-if-i-pass-away-is-there-a-medicaid-payback? Yes If you live in Oregon, any contribution you make to an account makes you eligible for the state’s refundable income tax credit, worth $180 for single filers or $360 for joint filers. You do not need to be the owner of the account to contribute and claim the tax credit; that includes people who send funds through a gifting page.

Oregon Senate Bill 777 implemented the federal ABLE Act in Oregon.

 

 Yes BNY Mellon FDIC Insured account up to $250,000. Yes 25 Yes 5 Yes $35.00 per year. No Yes $1.25 a month. Yes 50 $35 $2.50 per check. $1.25

Please See Plan Disclosure Document

 0 No fee for electronic statements. $10 annually for mailed paper statements. No

The ABLE for All Savings Plan offers a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day. With ABLE for All, both the earnings from your ABLE account and the money withdrawn for eligible expenses are tax free. Learn more about ABLE for All’s investment performance: https://ableforall.com/historical-performance

 

 

 

 

Minimum Deposit: Any deposits must be more than $5. There is no minimum number of contributions that someone has to make.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, ABLE for All accounts were designed to be opened and managed by the person with a disability. If they are not able to manage their account independently or would like someone else to manage the account on their behalf, we allow for supportive individuals to serve as Authorized Legal Representatives. Please visit this page for more information:  https://ableforall.com/alr-info/org-alr  

Does your plan allow for proper account titling for a representative payee?
• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name). Yes, ABLE for All allows for representative payees to manage accounts as an Authorized Legal Representative.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?  ABLE for All allows for the payment of funeral and burial expenses as a qualified disability expense prior to the remaining assets being transferred to the estate of the beneficiary.

State Tax Credit: If you live in Oregon, any contribution you make to an account makes you eligible for the state’s refundable income tax credit, worth $180 for single filers or $360 for joint filers. You do not need to be the owner of the account to contribute and claim the tax credit ; that includes people who send funds through a gifting page.

 

 
Oregon – ABLE Savings Plan /state-review/oregon/ Oregon ABLE Savings Plan (click to open an account) Phone number: 1-844-999-2253 https://www.sumday.com/register/oregon-able Open for Enrollment Vestwell No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Oregon. BNY Mellon 4 Vanguard Yes No 5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions Yes In the event of the death of a beneficiary, the funds from their ABLE account can be used by his or her estate to repay any outstanding eligible expenses or funeral and burial costs. Remaining funds will be transferred to the estate of the beneficiary. Due to the passage of Senate Bill 1027 during the 2017 legislative session, Medicaid in Oregon is restricted from filing a claim for a payback on funds that were previously in an ABLE account of a deceased beneficiary. Medicaid payback is governed at the Federal level. Out of an abundance of caution, it is suggested to assume funds could still be recovered by Medicaid. Yes Credit - $180 for Single Filers and $360 for Joint Filers https://www.oregonablesavings.com/faqs/what-is-the-oregon-income-tax-credit

Oregon Senate Bill 777 implemented the Federal ABLE Act in Oregon

Oregon ABLE Tax Credit

 Yes BNY Mellon FDIC Insured account up to $250,000. Yes 25 Yes 5 Yes $35 a year. No Yes $1.25 per month Yes 50 $35 a year. $2.50 per check $1.25 per month

Please See Plan Disclosure Document

 0 No fee for electronic statements. $10 annually for mailed paper statements (currently waived by the board). No fee for withdrawals

The Oregon ABLE Savings Plan offers a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day. With Oregon ABLE, both the earnings from your ABLE account and the money withdrawn for eligible expenses are tax free. Additionally, any money added to the account could qualify for a refundable state income tax credit, which enables you to save even more for the future.
Learn more about Oregon ABLE”s investment performance: https://www.oregonablesavings.com/historical-performance

Minimum Deposit Amount: Yes, any deposits must be more than $5. There is no minimum number of contributions that someone has to make.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes. Oregon ABLE accounts were designed to be opened and managed by the person with a disability. If they are not able to manage their account independently or would like someone else to manage the account on their behalf, we allow for supportive individuals to serve as Authorized Legal Representatives. Please visit this page for more information: https://www.oregonablesavings.com/alr-info

Does your plan allow for proper account titling for a representative payee? Yes. Oregon ABLE allows for representative payees to manage accounts as an Authorized Legal Representative.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Oregon ABLE allows for the payment of funeral and burial expenses as a qualified disability expense prior to the remaining assets being transferred to the estate of the beneficiary.
Pennsylvania /state-review/pennsylvania/ PA ABLE Savings Program (click to open an account) Phone: 1 855-529-2253 https://www.paable.gov/ Open for Enrollment Vestwell Government Savings, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. NA 16 Each of the Investment Options invests in products from Fidelity, Fifth Third Bank, Lincoln, Nationwide, Schwab, and Vanguard. Investment Options include seven risk-based Investment Options ranging from Aggressive to Capital Preservation, as well as nine target-year Investment Options, with target years ranging from 2030 to 2070 (or later). Yes No Withdrawals may be restricted for up to 15 days after Account opening, after contributions, or after certain changes to your account. Gift contributions may be subject to a hold of 10 business days (following settlement) during which they cannot be withdrawn. All other contributions are subject to a hold of 5 business days (following settlement) during which they cannot be withdrawn. Yes Subject to Federal and state probate laws. Yes Deduct contributions up to $19,000 per year from Pennsylvania taxable income (only contributions to PA ABLE accounts qualify for this deduction).

Pennsylvania State ABLE Legislation

 

 No No 0 Yes 1 Yes There is an Annual Account Maintenance Fee. That fee is $37, but is discounted to $17 for those Account Owners who choose Electronic Delivery. The fee is taken quarterly ($9.25 or $4.25). No Yes PA ABLE also offers an ABLE Visa® Prepaid Card managed by True Link Financial. Withdrawals can be taken from any Investment Option and loaded onto the ABLE Visa® Prepaid Card to use for Qualified Withdrawals. Yes 0 Annual Account Maintenance Fee (assessed quarterly): $56.00 for paper delivery of confirmations and statements ($14.00/quarter) $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). $0 $0; PA ABLE also offers an ABLE Visa® Prepaid Card managed by True Link Financial. Withdrawals can be taken from any Investment Option and loaded onto the ABLE Visa® Prepaid Card to use for Qualified Withdrawals. 0 There is an Annual Account Maintenance Fee. That fee is $37, but is discounted to $17 for those Account Owners who choose Electronic Delivery. The fee is taken quarterly ($9.25 or $4.25). $0

Pennsylvania savers and investors can choose among 7 Risk-Based Investment Options and 9 Target-Year Investment Options. debit card and check-writing capability. There is a convenient PA ABLE Visa Prepaid Card to access funds. Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Pennsylvania ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Pennsylvania ABLE Account, and the easy-to-use gift feature and Gift of College cards make gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance 

Program Disclosure Statement

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? With proper documentation, qualified funeral and burial expenses may be withdrawn from the account.
Rhode Island /state-review/rhode-island/ RI's ABLE (click to open an account) Phone: 1 (888) 609-8915 https://savewithable.com/ri/home.html Open for Enrollment Ascensus College Savings Recordkeeping Services, LLC Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank 8 The Investment Options include 7 Asset Allocation Options with underlying investments managed by BlackRock, Schwab, Vanguard, and Capital Group-American Funds. Fifth Third Bank provides the 8th Investment Option, a Checking Account Option, which invests 100% of assets in an FDIC-insured checking account. Yes No A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery. No No

HB 5564 Legislative Summary

SB 465 Legislative Summary

 Yes The Checking Account Investment Option invests 100% of its assets in an FDIC-insured checking account held at Fifth Third Bank. No 0 Yes 1 Yes Annual Account Maintenance Fee (assessed quarterly). $56.00 for paper delivery of confirmations and statements ($14.00/quarter); $31.00 for e-delivery of confirmation and statement notifications ($7.75/quarter). The Plan may reduce this fee by an additional $5.00 per year if the Account Owner or Authorized Individual is a resident of Rhode Island. No Yes A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance of greater than $250, or if enrolled in E-delivery Yes 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Rhode Island. Checks may be purchased for $6.00 per checkbook. Once the checking account balance reaches at least $25.00, payment for checkbooks may be made from funds in the Account. A Fifth Third Bank Checking Account Option is available with a real-time debit card and no overdraft fees. The $2.00 monthly fee will be waived for Accounts with an average daily balance greater than $250, or if enrolled in E-delivery.

Please See Plan Disclosure Documents

 0 The Annual Account Maintenance fee of $56.00 If Electronic Delivery is selected, the Annual Account Maintenance Fee is reduced to $31.00 for E-delivery. The Plan may reduce this fee by an additional $5.00 per year ($1.25 per quarter) if the Account Owner or Authorized Individual is a resident of Rhode Island. 0

Rhode Island is a member of the National ABLE Alliance, a non-partisan consortium of states and the District of Columbia. Rhode Island savers and investors can choose among 8 Investment Options, including a Money Market Option and/or a fully integrated Fifth Third, FDIC-insured Checking Account Option, which is available with a real-time debit card and check-writing capability.  Account Owners can take advantage of lower fees by choosing Electronic Delivery. The Rhode Island ABLE Program is available to both in-state and out-of-state residents. Anyone can contribute to an Rhode Island ABLE Account, and the easy-to-use Ugift feature makes gift contributions easy.

Where can I find the ABLE Plan’s investment performance information?

Plan’s Investment Performance Report

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Please see the Plan Disclosure Documents

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please see the Plan Disclosure Documents
South Carolina /state-review/south-carolina/ Palmetto ABLE Savings Program (South Carolina) (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://www.palmettoable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of South Carolina. Bank of New York Mellon 4 Vanguard Yes No   1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes 100% of contributions to a Palmetto ABLE Savings Program account may be deducted from SC state income tax

South Carolina HB3768 established the Palmetto ABLE Savings Program

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set up to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 0 $5.00 per month

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic 0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, South Carolina residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, STABLE Visa Cards offer different levels of spending controls for the STABLE account owner and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information?

The plan’s investment performance can be found here: https://palmettoable.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 grant paid by STABLE Account Plan upon the completion of their enrollment, which includes the minimum initial deposit of $25.  Eligible accounts will receive the $25 grant within 60 days of account funding.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Optional Additional Information: Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. Any remaining funds are subject to the South Carolina state probate process and may be subject to Medicaid estate recovery.  If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.

There is a $25 fee for rolling over an account from STABLE to a non-STABLE Account program. Based on when the account is terminated, the account owner may be assessed a portion of the maintenance fee.

 
South Dakota /state-review/south-dakota/ https://sdic.sd.gov/other/ABLE.aspx NA $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. No There is no state income tax for residents of South Dakota.

HB 1224

 0

HB 1224 was signed into law on 3/11/2016. The bill:

  1. Excludes contributions to an account in a qualified ABLE savings program, earnings on the contributions or distributions from the account for qualified disability expenses from consideration when determining eligibility for state benefit programs.
  2. Authorizes the Investment Council to provide information about ABLE savings programs to residents of South Dakota.
Tennessee /state-review/tennessee/ ABLE TN (click to open an account) Phone: 855.922.5386 https://able.treasury.tn.gov/ Open for Enrollment State of Tennessee Department of Treasury No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Tennessee. NA 15 Vanguard; PrimeCap, DoubleLine; Western Asset Management No No Each Contribution will be subject to a ten (10) calendar day hold before the monies are eligible for Withdrawal. Additionally, there will be a hold of eight (8) Business Days on Withdrawal requests when there is a change to the Account Owner’s address and a hold of ten (10) calendar days on Withdrawal requests following a change to the Account’s banking information. No No There is no state income tax for residents of Tennessee.

Achieving a Better Life Experience (ABLE) Act

 No NA Yes 25 No No No No Yes 0 $0 NA $0 0 $0 $0

New Enrollment in ABLE TN is only available to Tennessee residents.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? No

Where can I find the ABLE Plan’s investment performance information? ABLE TN (abletenn.com)

Description of plan’s Recertification of ABLE Eligibility Policy: Each year, the Account Owner is notified that they must inform ABLE TN if they are no longer eligible. If they do not notify the program that they are ineliglble, they are deemed to have re-certified.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please See Plan Disclosure Documents 
Texas /state-review/texas/ Texas ABLE Program (click to open an account) Phone number: 844.489.2253 https://www.texasable.org/ Open for Enrollment Orion Advisor Solutions, Inc. No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Texas. Bank of the West 5 Vanguard, PIMCO, and Eaton Vance Yes No 10 business days following receipt of contributions by check or ACH if needed to fund withdrawal or following a change of address; 15 business days following change of ALR No No Texas does not have a state income tax.

Texas Education Code, Chapter 54, Subchapter J

 Yes Bank of the West; account is FDIC-insured up to $250,000 Yes 50 Yes 25 Yes $42 Yes Two free ACH withdrawals per month, $1 for each additional withdrawal. A withdrawal to the debit card is considered an ACH withdrawal. Once funds are on the debit card, no additional withdrawal fees apply. Yes $0 Yes 0 $42 per year payable at $3.50 per month. Distributions by check can be authorized by the beneficiary or ALR, if any, but the program does not provide checks for use by the beneficiary or ALR The Program will charge $1.00 for each withdrawal by ACH in excess of two per month from your Texas ABLE account. Making a withdrawal to the Focus Card is considered an ACH withdrawal.

Please See Program Disclosure Document

 0 $0 if electronic or $10 per year if paper option is selected $1 fee for each ACH withdrawal in excess of two per month; $5 fee for each withdrawal by check

Program is administered by the Texas Prepaid Higher Education Tuition Board, chaired by the Texas Comptroller. A Texas ABLE Advisory Committee has been established by the Board to provide guidance to the Board about Texas ABLE. An eGift option is available.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? If the beneficiary is unable or prefers not to manage their own account, they can have someone manage it for them (Authorized Legal Representative “ALR”) according to the hierarchy allowed by IRC, Sec. 529A. Even if the ALR manages the account, they can allow the beneficiary to have a debit card in their name to help them learn about managing funds.

Where can I find the ABLE Plan’s investment performance information? https://www.texasable.org/investments/#investment-performance

Description of plan’s Recertification of ABLE Eligibility Policy: Program Disclosure Statement advises that participants no longer meeting eligibility requirements should notify program in a timely manner; annual statements include reminder as well.

The account owner can establish their own account online or contact customer service for assistance in establishing an account.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, for accounts established by a rep payee, the organization that employs the rep payee is listed as the ALR.

Does your plan allow for proper account titling for a representative payee? no

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account beneficiary, a copy of the death certificate is requested. The program allows payment of funeral and burial expenses before Medicaid Recovery. A copy of the benefciary’s will is requested to make sure remaining funds are distributed according to law.

Account balances are generally not considered as a resource for purposes of determining a beneficiary’s eligibility to receive benefits or the amount of the assistance or benefits provided by the state of Texas.
Utah /state-review/utah/ ABLE Utah Savings Plan (click here to open account) Phone: 1-800-439-1653 from 9am-8pm ET. https://ableut.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Utah. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No Yes Individuals may claim a credit for 4.50 percent of the total qualified contributions they make to a Utah resident’s ABLE Utah account. Contributions must be made during the taxable year and have an itemized statement from the qualified ABLE Utah savings plan. Individuals may not claim credit for an amount of a contribution that is returned to them or an amount already deducted on their federal income tax return.

 

SB292 is the legislation that establishes the Achieving a Better Life Experience Program, ABLE Utah Savings Plan

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $0 Yes 25 $0 $0 $0

Please See Plan Disclosure Documents

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Utah residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a no cost loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending control for the STABLE account owner and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://ableut.com/historical-performance

 

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Vermont /state-review/vermont/ Vermont ABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://www.vermontable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Vermont. Bank of New York Mellon 4 Vanguard Yes No  1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No No

V.S.A. §§ 8001-8004 establishes the rules for Vermont ABLE.

 Yes The Fifth Third Bank, NA BankSafe account is FDIC Insurance up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No The current account maintenance fee is $20 per year payable at $5.00 per quarter. No Yes $0 Yes, the STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $0

Please See Plan Disclosure Document

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Vermont residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a no cost loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://vermontable.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes. During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? Yes. During the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Optional Additional Information: What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available?

Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Virginia – ABLEAmerica /state-review/virginia-2/ ABLEAmerica (click to open an account) Please contact your financial professional. https://www.able-now.com/ableamerica Open for Enrollment Commonwealth Savers Plan selected American Funds Service Company, American Funds Distributors and Capital Research and Management Company to manage ABLEAmerica. Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. ABLEAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries. 7 American Funds No Yes Please contact your financial advisor. Yes Virginia offers an annual state income tax deduction of up to $2,000 per contributor for contributions to an ABLEnow or ABLEAmerica account.

Sections 23.1-700 through 23.1-713 of the Code of Virginia, as amended.

 No Yes 250 Yes 50 Yes Accounts may incur an initial $10 set-up fee. However, these fees are waived until further notice. No No Yes 0 Accounts may incur an annual $10 account maintenance fee. However, these fees are waived until further notice. NA NA

See https://www.capitalgroup.com/individual/products/american-funds-portfolio-series.html for details on the investment options or speak with your financial professional.

 0 Please contact your financial professional. NA

The first ABLE program available through financial professionals, ABLEAmerica is distributed by American Funds, a family of mutual funds from Capital Group, one of the world’s largest investment management firms. The advisor-sold ABLEAmerica plan is sponsored by Commonwealth Savers and open to eligible individuals in all 50 states. For more information, contact a financial professional.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Please contact your financial professional.

Description of plan’s Recertification of ABLE Eligibility Policy. See plan disclosure documents.

Does your plan allow for proper account titling for a representative payee? Please contact your financial professional.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Please contact your financial professional.
Virginia – ABLEnow /state-review/virginia/ ABLEnow (click to open an account) Phone: 844-669-2253 https://www.able-now.com/ Open for Enrollment Commonwealth Savers Plan selected Ascensus as the recordkeeper of ABLEnow Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Fifth Third Bank and Bank of New York Mellon 5 Vanguard, Atlantic Union Bank Yes No Typically, funds are available between five to seven business days after the contribution is initiated. The availability of funds for withdrawal will vary depending on the type of contribution. No Yes Virginia offers an annual state income tax deduction of up to $2,000 per contributor for contributions to an ABLEnow or ABLEAmerica account.

Sections 23.1-700 through 23.1-713 of the Code of Virginia, as amended

 Yes Balances in the FDIC Insured Savings Account and Checking Account options are insured to the extent allowed by the Federal Deposit Insurance Corporation (FDIC). Yes 5 Yes 1 Yes $34 annually (electronic statements); $51 annually (paper/mail statements) No Yes Through Fifth Third Bank. $2 monthly (waived if the average monthly balance is $250+ during a statement cycle, OR enrolled in paperless statements). Yes 0 $34 per year, payable at $8.50 per quarter when enrolled in electronic statement delivery. If paper/mail delivery is selected, the fee is $51 annually ($12.75 quarterly). Only for the Checking Account option, checks may be purchased for $6.00 per checkbook. For the Fifth Third Bank Checking Account option a debit card is available with no overdraft fees. There is a $2 monthly fee (waived if the average monthly balance is $250+ during a statement cycle OR enrolled in paperless statements).

The Total Expense Ratio for each of the Aggressive Growth, Moderate Growth, and Conservative Income portfolios is 0.18%.  The total Expense Ratio of the FDIC Insured option is 0.15%. Please see ABLEnow.com/saving-investments/fees for more information.

 

 0 Quarterly statements included for the electronic statement delivery option for the annual maintenance fee noted above ($34 annually) and statements are mailed for the paper delivery option included with annual maintenance fee noted above ($51). $0

ABLEnow is the national, direct-sold ABLE savings program administered by Commonwealth Savers. Launched in 2016, ABLEnow features a convenient website to open and manage your account anytime, an entity management dashboard for organizations that assist clients with an ABLE account, an ABLEnow debit card for everyday spending, and in-house ABLE experts available by phone and email.

Description of plan’s Recertification of ABLE Eligibility Policy: See plan disclosure documents.

Does your plan allow for proper account titling for a representative payee? ABLEnow allows individual and organizational representative payees to open accounts as Authorized Individuals, so the representative payee has full control over account funds.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? An ABLEnow account’s Authorized Individual may pay any outstanding qualified disability expenses for a deceased Account Owner from the ABLEnow account, including funeral expenses prior to a final distribution of the account funds.

Most ABLEnow gift-givers can make contributions via Ugift.

Account owners can name a Successor Account Owner. The Successor Account Owner must be an eligible individual and a sibling who will take ownership of the account upon the Account Owner’s death. The balance of an Account upon the Account Owner’s death is subject to reductions in the balance as mandated by Applicable Law.
Washington /state-review/washington/ Washington State ABLE (click to open an account) Phone number: 1-844-600-2253 https://www.washingtonstateable.com/ Open for Enrollment Vestwell Yes $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. Bank of New York Mellon 4 Vanguard and DFA Yes No 5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions 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. No WA has no state income tax therefore no deductions nor credits.

Washington House Bill 2323 from 2016 session

Senate Bill 6221 from 2018 session

 Yes BNY Mellon FDIC Insured account up to $250,000. Yes 25 Yes 10 Yes $35 per year. No Yes $1.25 per month Yes 0 $35 $2.50 per check (distribution by check) $1.25 per month

See plan disclosure for  fee information

https://www.washingtonstateable.com/uploads/wa-able/attachments/clqvbltnf2ch00jmk3hin3p9v-washington-able-plan-disclosure.pdf

 

 0 No fee for electronic statements. $20 annually for mailed paper statements and documents. $0

We offer a Mobile App to allow you to manage your account on the go. We also offer E-gifting option to set up and run gifting campaigns for the beneficiary.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the ABLE plan may allow for different levels of account access for the owner and Authorized Legal Represenative through the debit card option and through Organizatinal Authorized Legal Representatives.

Does your plan allow for proper account titling for a representative payee?
• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name).

ABLE accounts allow for both the beneficiary’s and the Authorized Legal Representative’s (including Representative Payee) name.

Does your plan allow for naming any beneficiary on the account? Yes, we allow for Successor Owners of the account for siblings with disabilities of the account owner. We are also establishing a process to name beneficiaries that do not qualify as Successor Owners on the account.

The account owner or Authorized Representative is asked to notify the program if their eligibility changes.

 

Please note: non-Washington residents may open an ABLE account with ABLE for All.

Does your plan allow for proper account titling for a representative payee? Our ABLE plan allows for representative payees to properly manage the account as Authorized Legal Representative. We have supports for ALR https://www.washingtonstateable.com/alr-info

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Our ABLE plan allows for the payment of funeral and burial expenses as a qualified disability expense (QDE) prior to the remaining assets being subject to a Medicaid recapture claim or transferred to the estate of the beneficiary.

 
West Virginia /state-review/west-virginia/ WVABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://wvable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of West Virginia. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. Yes Except required by federal law for those estates, ages 55 and older, whose nursing home and/or community based services were paid by Medicaid. http://www.wvrecovery.com/estate.asp Yes West Virginia resident or tax payer may take a state income tax deduction equal to the total contributions to a WVABLE account for the year. Deductions for contributions are allowed for each designated beneficiary and excess deduction may be carried forward for up to five years.

West Virginia Code | §16-48 (wvlegislature.gov)

 

 

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $0 Yes, the STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $0

Please See Plan Disclosure Document

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, West Virginia residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a no cost loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://stableaccount.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Optional Additional Information: Does your plan allow for proper account titling for a representative payee? Yes. If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an organization, the account is set up with the organization as the administrator with an agent to act on behalf of the organization.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
Wisconsin /state-review/wisconsin/ No program – eligible Wisconsin residents may open an account with another state that accepts non-residents into its program. https://dfi.wi.gov/Pages/EducationalServices/PersonalFinance/ABLESavingsAccounts.aspx The Wisconsin Department of Financial Institutions is currently developing an ABLE Savings Plan for Wisconsin Residents. More information can be found here on the program’s status. In the meantime, ABLE-eligible Wisconsin residents may establish an ABLE account with any state’s program that accepts nonresidents. NA No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii. NA 0 NA No No Yes Wisconsin residents with disabilities may establish an ABLE account in another state that has contracted with their provider to allow nonresidents to create ABLE accounts. A Wisconsin subtraction from federal adjusted gross income is allowed for the amount deposited in the taxable year into an ABLE account by an account owner or any other person. This subtraction does not apply to rollovers or transfers to the account.

2015 Senate Bill 21 – 2015 WISCONSIN ACT 55

2023 Senate Bill 668 – 2023 Wisconsin Act 267

 

 

 

 

 No NA 0

Wisconsin allows a state income tax deduction for contributions to ABLE accounts opened in other states. Find more information on the Wisconsin Department of Revenue website.

The cumulative limit for an ABLE account is set by each state’s ABLE program; Wisconsin residents must adhere to the asset limit of the state program in which they open an account.

ABLE was added to the Executive Budget Act of 2015 (SB 21) on 7/12/15.

IMPORTANT NOTE: AB 731 was introduced on 1/15/16.  This legislation repeals the Wisconsin ABLE Law but applies a state income tax deduction to ABLE accounts opened in other states. AB 731 passed Assembly on 2/16/16 and the Senate concurred on 3/16/16. It was signed into law on 3/30/16.
Wyoming /state-review/wyoming/ WYABLE (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET https://wyable.com/ Open for Enrollment Vestwell State Savings No $20,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.) An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to their ABLE Account. The additional amount that may be deposited is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is less. This is up to $15,650 for residents of Wyoming. Bank of New York Mellon 4 Vanguard Yes No 1. Contributions received from a Beneficiary or ALR will be subject to a five (5) Business Day holding period before the funds are available for withdrawal. 2. Contributions made as a result of a gift from a third party will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. 3. A change in mailing address will result in a ten (10) Business Day holding period before physical checks can be requested and mailed to the new address of record. 4. A change in bank account will result in a ten (10) Business Day holding period before Electronic Fund Transfers can be requested and sent to the new linked bank account. No No

Wyoming does not have state specific ABLE legislation.

 Yes The STABLE Savings Option is FDIC Insured up to $250,000, subject to certain restrictions. Yes 25 Yes 1 No No Yes $5.00 per month. Yes, the STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity. Yes 25 $0 $0 $5.00 per month. The STABLE Visa Card can be loaded from your STABLE account and used anywhere Visa debit cards are accepted. Easily track expenses by uploading receipts, adding notes, or downloading custom reports. Spending limits and locations can be set to help safeguard spending. Custom text or email alerts can notify you of card activity.

Please See Plan Disclosure Document

 0 $20 annually (print/mail); $0 electronic $0

STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, Wyoming residents have access to a program that features the best customer service and offers ease of enrollment, unsurpassed website accessibility, an online portal to manage your account, some of the lowest investment management fees in the country, payroll deduction, personalized gifting page, and a loadable debit card with customizable spending controls and transactional recordkeeping.

Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, the STABLE Visa Cards offer different levels of spending controlls for the STABLE account onwer and/or authorized legal representative.

Where can I find the ABLE Plan’s investment performance information? The plan’s investment performance can be found here: https://az-able.com/historical-performance

Does your plan offer an incentive to enroll: Yes. New accounts will receive a $25 deposit upon the completion of their enrollment, which includes the minimum initial deposit of $25.

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes, during the opening procedure, (online or paper application) this relationship is established via the answer to the hierarchy question included.

Does your plan allow for proper account titling for a representative payee? If the representative payee is an individual, they set up the account with themselves as the Authorized Legal Representative.  If the representative payee is an entity, the account is set up with the entity as the administrator with an agent to act on behalf of the entity.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Upon notification of the death of the account owner, our staff requests a copy of the death certificate.  Once received, we inquire if there are outstanding qualified disability or funeral and burial expenses to be paid.  If so, payment is made to cover those expenses.  If there are funds left above those final expenses, the state Medicaid recovery office is notified of the death and opportunity to recover. If there are funds left after Medicaid recovery or due to no recovery request, a check is made payable to the estate of the account owner.

Does your plan allow for naming any beneficiary on the account? Yes. A successor beneficairy may be named within the account. Upon the death of the STABLE account owner, outstanding qualified disability expenses, including funeral and burial may be paid. Then Medicaid recovery rules apply. If there are funds remaining, they will be paid to the successor beneficiary named on the account.
 
1 Does this program offer enrollment to out of state residents?
2 Is there a state income tax deduction or credit for contributions made into accounts opened in this state by state residents? If so, how much? state_income_tax_deduction_if_yes
3 FDIC Insured? fdic_insured_if_yes
4 Is there an initial minimum contribution requirement to open an ABLE account? If so, how much? initial_minimum_contribution_amount
5 Is there an annual set fee to maintain the account? If so, how much? annual_set_fee_how_much
6 Is there a required minimum contribution to your account? If so, what is the amount? required_minimum_contribution_amount
7 Are there fees or restrictions to the number of disbursements you are allowed? If so, what are they? fees_or_restrictions_what_are_they
8 Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so? fee_to_roll_over_how_much
9 Is there a “debit card/purchasing card” available with the program? If so, what is the added cost? purchasing_card_added_cost
10 Who is the investment manager?
11 How many investment options are associated with the program?