New Hampshire

Program Name: STABLE NH (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET
Status: Open for Enrollment
State Program Manager: Vestwell State Savings
State Account Limit: $523,000
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 New Hampshire.
Program Banking Institution: Bank of New York Mellon
Number Investment Options: 4
Program Investment Institution(s): Vanguard
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: 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.
Medicaid Estate Recovery Status: Upon the death of the account owner, the state Medicaid agency shall be a creditor for the total medical assistance paid under the State’s Medicaid program on behalf of the account owner after the establishment of the account, upon filing of a claim for payment by such state.
State Income Tax Deduction: No. There is no state income tax for residents of New Hampshire.
FDIC Insured: Yes. The Fifth Third Bank, NA Bank Safe account is FDIC Insurance up to $250,000, subject to certain restrictions.
ABLE Legislation:

New Hampshire RSA 195-K establishes the rules for STABLE NH

Account Disclosure Document(s):

Please See Plan 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? 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.

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. $1.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. The current account maintenance fee is $39 per year payable at $9.75 per quarter.
  • 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?
    Yes. $5.00 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:
      The current account maintenance fee is $39 per year payable at $9.75 per quarter.
    • Check Fee:
      $0
    • Debit Card Fee:
      $5.00 per month
    • Investment Option Fee Range:

      Please See Plan Disclosure Documents

    • Statement Fee:
      $10 annually (print/mail); $0 electronic
    • ABLE Account Transfer Fee:
      There is no fee for rolling over an account, however, based on when the account is terminated, the account owner may be assessed a portion of the maintenance fee.
    • Withdrawal Transaction Fee:
      $0
  • Are there other characteristics unique to your program?

    STABLE Account is the national ABLE savings program administered by the Office of the Ohio Treasurer of State. Through its partner state model, New Hampshire 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.

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

STABLE NH (click to open an account) Phone: 1-800-439-1653 from 9am-8pm ET