Florida

Program Name: ABLE United (click to open an account)
Status: Open for Enrollment
State Program Manager: ABLE United is the state of Florida’s ABLE Program and is administered by Florida ABLE, Inc., a direct-support organization of the Florida Prepaid College Board. Sumday is the plan manager for ABLE United and provides the online platform for the ABLE United Account.
State Account Limit: $418,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: 12140
Number Investment Options: 8
Program Investment Institution(s): BlackRock, Vanguard, Florida PRIME
Debit Card Or Prepaid Card: No
Withdrawal Hold Rules: Yes
State Income Tax Deduction: No. No, there is no state income tax for residents of Florida.
FDIC Insured: Yes.
ABLE Legislation:

ABLE (Achieving a Better Life Experience) Act

Account Disclosure Document(s):

Account Disclosure Document


Additional Information:

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.

“Except as required by federal law, the Florida Medicaid program may not file a claim for Medicaid recovery of funds in an ABLE account. Any remaining funds in an ABLE account must first be distributed for Qualified Disability Expenses then transferred to the estate of the designated beneficiary or an ABLE account of another eligible individual specified by the beneficiary.

If the beneficiary receives Medicaid benefits, upon the death of the beneficiary, a state may request reimbursement for Medicaid benefits paid after establishment of the ABLE United account and after all outstanding Qualified Disability Expenses have been paid. The claim is limited to the total amount of assistance paid by the Medicaid program, less premiums paid by, or on behalf of, the beneficiary to a Medicaid Buy-In program under Title XIX of the Social Security Act. For this purpose, a state is considered a creditor of the account and not a beneficiary.”

Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $25.
  • Is there an annual set fee to maintain the account? If so, how much?
    No.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    No.
  • 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:
      $0
    • Check Fee:
      $2.50 per paper check
    • Debit Card Fee:
      NA
    • Investment Option Fee Range:
      $0 to $2.90 on $1,000 investment annually See state's ABLE Plan Disclosure Documents and Investment Performance Report for detailed information.

      Account Disclosure Document

    • Statement Fee:
      $10 annually
    • ABLE Account Transfer Fee:
      $0
    • Withdrawal Transaction Fee:
      $0
  • Are there other characteristics unique to your program?

    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.

ABLE United (click to open an account)
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