Program Name: ABLE United (click to open an account) Phone: 1-888-524-2253
Status: Open for Enrollment
State Program Manager: Sumday Administration, LLC
State Account Limit: $418,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $16,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions.)
ABLE To Work Act Contribution: 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 his or her ABLE Account. The additional amount that may be contributed 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 the less. This is up to $12,880 for residents of Florida.
Program Banking Institution: Bank of New York (BNY) Mellon
Number Investment Options: 8
Program Investment Institution(s): BlackRock, Inc. BNY Mellon The Vanguard Group, Inc. Florida PRIME
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes.   Up to 5 days for first party deposits; 20 business days for third party deposits.
Medicaid Estate Recovery Status: The Florida Medicaid program may not file a claim for Medicaid recovery of funds in an ABLE United Account. Upon the death of a designated Beneficiary, funds in the ABLE Account must first be distributed for Qualified Disability Expenses, then transferred to the estate of the designated Beneficiary. Federal law requires that each state recover Medicaid expenditures from a Medicaid recipient’s estate. Federal law also allows for a state to file a claim for Medicaid expenditures from an ABLE account. If the beneficiary received Medicaid in another state, please check the law of that state.
State Income Tax Deduction: No. No, there is no state income tax for residents of Florida.
FDIC Insured: 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.
ABLE Legislation:

Florida Achieving a Better Life Experience (ABLE) Act

Account Disclosure Document(s):

Please See Account Disclosure Document

Additional Information:

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?

The account lists the beneficiary and the name of the authorized legal representative (ALR) who is managing the account on behalf of the beneficiary, if there is one. For example, John Doe Jane Doe ALR

Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $25.
  • Is there a required minimum contribution to your account? If so, what is the amount?
    Yes. $5.
  • Is there an annual set fee to maintain the account? If so, how much?
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    Yes. $2.50 per month
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes. $0.
  • Fee Range
    • Annual Maintenance Fee:
    • Check Fee:
    • Debit Card Fee:
      $2.50 per month
    • Investment Option Fee Range:

      Please See Plan Disclosure Documents

      Investment option fee ranges from 0 to 29 bps (from $0 to $2.90 per $1,000 in the account)

    • Statement Fee:
      $2.50 quarterly
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
      Prepaid debit card has a $2.50 monthly fee that is deducted from the prepaid card balance monthly.
  • Are there other characteristics unique to your program?

    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? Investment Performance

    Description of plan’s Recertification of ABLE Eligibility Policy: The program considers an individual to be eligible until the authorized legal representative or beneficiary promptly notifies the program of any changes to the beneficiary’s condition that would result in the beneficiary failing to satisfy the definition of an eligible individual.

ABLE United (click to open an account) Phone: 1-888-524-2253