West Virginia

Program Name: WVABLE (click to open an account)
Status: Open for Enrollment
State Program Manager: Intuition ABLE Solutions, LLC
State Account Limit: $468,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: 12140
Number Investment Options: 4
Program Investment Institution(s): Vanguard Group, Inc: “Except to the extent of the Federal Deposit Insurance Corporation (FDIC) insurance provided for the BankSafe option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested.”
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes
State Income Tax Deduction: Yes. A West Virginia resident or taxpayer may take a state income tax deduction equal to the total contributions to a WVABLE account for the year. Deductions for contributions are allowed for each designated beneficiary and excess deductions may be carried forward for up to five years.
FDIC Insured: Yes.
ABLE Legislation:

West Virginia H. B. 2902, known as the Achieving a Better Life Experience in West Virginia Act, establishes the rules for WVABLE.

HB. 2848 effective May 30, 2019 per state law. WVABLE accounts are not subject to a 529A claim against the beneficiary of a WVABLE for total medical assistance paid after the establishment of an account by the West Virginia Department of Health and Human Resources. However, the West Virginia Department of Health and Human Resources may recover payments from the estate of Medicaid beneficiaries only as required by the Section 1917(b) of the Social Security Act of WV Code §9-5-11c. Those impacted will be the estates, age 55 or older, whose nursing home and/or community based waiver services were paid by Medicaid. The estate recovery may include remaining STABLE account funds. For more information on the West Virginia estate recovery process, please go to WV Recovery.

Account Disclosure Document(s):

Account Disclosure Document

Additional Information:

BankSafe option is FDIC insured up to $250,000.

Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $50.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. The current account maintenance fee is $42 annually, payable at $3.50 monthly.
  • 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. There are no added costs for the STABLE Card, a loadable prepaid debit card.
  • 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 $42 annually, payable at $3.50 monthly.
    • Check Fee:
    • Debit Card Fee:
    • Investment Option Fee Range:
      $1.90 - $3.40 on $1,000 investment per year. See state's ABLE Plan Disclosure Documents and Investment Performance Report for detailed information.

      Account Disclosure Document

    • Statement Fee:
      $10 annually (print/mail); $0 electronic
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
  • 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, West Virginia 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 / direct deposit, and a loadable debit card with customizable spending controls and transactional recordkeeping.

WVABLE (click to open an account)
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