ABLE accounts are special, tax-advantaged savings accounts available to those with disabilities and their families. An ABLE account helps those who receive government assistance through Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Supplemental Nutrition Assistance Program ...
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Read about the benefits of 529 ABLE accounts, which allow Americans who are living with disabilities to save money for college and other expenses.
Child eligibilityMust already be receiving benefits under Supplemental Security Income (SSI) and/or Social Security Disability Insurance (SSDI). If not, to be eligible, they must be certified blind or disabled by a licensed physician. In all cases, the disability must have begun prior to age 26...
ABLE accounts may also be funded by rollovers from 529 college savings plans. Just keep in mind that 529 rollovers are still subject to the same annual ABLE contribution limits. Qualifying expenses. The key to effectively using and managing funds in an ABLE account is knowing what they can ...