Status: Open for Enrollment
State Program Manager: Florida Prepaid College Board
State Account Limit: $15,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 8
Program Investment Institution(s): Vanguard Group, Inc, Florida PRIME, and BlackRock, Inc.; “Except to the extent of Federal Deposit Insurance Corporation (FDIC) insurance provided for the Debit/Checking Option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested. ”
Debit Card Or Prepaid Card: No
Withdrawal Hold Rules: Yes
Medicaid Payback Waived: Yes. Yes, subject to federal and state probate laws.
State Income Tax Deduction: No. No, there is no state income tax for residents of Florida.
FDIC Insured: Yes
Account Disclosure Document(s):
ABLE United is the State of Florida’s qualified able program. The Program is administered by Florida ABLE, Inc. a direct-support organization of the Florida Prepaid College Board (Board).The Board, established in 1987, oversees approximately $10 billion in collective investments in the Stanley G.Tate Florida Prepaid College Program and the Florida 529 Savings Program. The mission of ABLE United is to encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence and quality of life.
Program at a Glance
Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
Is there an annual set fee to maintain the account? If so, how much?
Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
- Fee Range