Program Name: Washington State ABLE (click to open an account) Phone number: 844-600-2253
Status: Open for Enrollment
State Program Manager: Sumday Administration, LLC
State Account Limit: $500,000
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 compensation 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 Washington.
Program Banking Institution: Bank of New York Mellon
Number Investment Options: 3
Program Investment Institution(s): Vanguard, Dimension
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes.   Contributions received from a Beneficiary or Authorized Legal Representative will be subject to a ten (10) Business Day holding period before the funds are available for withdrawal. ~Contributions made as a result of a gift from a third party will be subject to a twenty (20) Business Day holding period before the funds are available for withdrawal.
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 ABLE account, upon filing of a claim for payment by such state against the account owner's estate.
State Income Tax Deduction: No. There are no income taxes for residents of Washington.
FDIC Insured: Yes. FDIC Insurance up to $250,000, subject to certain restrictions.
ABLE Legislation:

Washington House Bill 2323 from 2016 session

Senate Bill 6221 from 2018 session

Account Disclosure Document(s):

Please see Plan Disclosure Document

Additional Information:

There are no state income taxes for residents of Washington.

ABLE to ABLE Rollovers: Free for incoming rollovers; $50 fee for outgoing rollovers.

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, account owners can manage their ABLE accounts independently

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 death, account is closed and assets sent to the estate; the estate can pay outstanding qualified disability expenses, Medicaid recovery, etc.

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. $10.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. $35
  • 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. $1.25 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:
      $2.50 per paper check disbursement.
    • Debit Card Fee:
      $1.25 per month
    • Investment Option Fee Range:

      0.30% to 0.38%

      See plan disclosure for historical rate of returns.

    • 529 College Rollover Fee:
    • Statement Fee:
    • ABLE Account Transfer Fee:
      No fee charged for incoming transfers. $50 fee charged for outgoing transfers.
    • Withdrawal Transaction Fee:
      Free unlimited withdrawals.
  • Are there other characteristics unique to your program?

    E-gifting option to set up and run gifting campaigns for the beneficiary.

Washington State ABLE (click to open an account) Phone number: 844-600-2253