ABLEnow accounts help individuals with disabilities save money to pay for qualified expenses, without being taxed on the earnings – and in most cases, without losing eligibility for certain means-tested benefit programs.
Open your ABLE account today with ABLEnow, one of the fastest-growing ABLE programs in the country. Save for today’s needs or invest for tomorrow in a simple, affordable and tax-advantaged account that won’t impact certain disability benefits.
ABLEnow accounts are made possible by the Achieving a Better Life Experience (ABLE) Act, which authorized states to establish tax-advantaged ABLE savings programs. As the Virginia-sponsored ABLE savings program, ABLEnow is administered by Virginia529.
ABLEnow accounts are designed to be flexible – easy to manage, easy to contribute to, and easy to use. Pay for a range of qualified disability expenses with your ABLEnow Card, available to all account holders at no additional cost.
Earnings grow free from federal taxes. In addition, some states may offer state tax incentives.
Works With Other Aid
Generally, funds in an ABLEnow account are disregarded when determining eligibility for certain means-tested benefits programs, such as Medicaid and Supplemental Security Income (SSI).
ABLEnow accounts are available to U.S. Citizens and legal residents, regardless of state residency. To qualify for an ABLEnow account, the “eligible individual” must be a person whose disability developed before the age of 26.