ABLE – Achieving a Better Life Experience Account
An Achieving a Better Life Experience (ABLE) account is a tax-advantaged savings account to which contributions can be made to meet the qualified disability expenses of the owner, or designated beneficiary. ABLE accounts receive favorable treatment and are excluded from resources in whole or in part, for purposes of certain means-tested Federal programs.
The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE) became law on December 19, 2014. The law aims to ease financial strains faced by individuals with disabilities by making tax-free saving accounts available to cover qualified disability expenses.
Links to ABLE information and resources
SPOTLIGHT ON ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) ACCOUNTS — 2021 Edition
Internal Revenue Service (IRS)
ABLE Accounts – Tax Benefit for People with Disabilities
ABLE National Resource Center
Connecting people with disabilities and their families and those who support them to information about the Achieving a Better Life Experience (ABLE) Act and ABLE account.
People with intellectual and developmental disabilities (IDD) and their families often must find a way to save without losing public benefits that a person with IDD receives. ABLE accounts are one tool that can be used to help people pay for the things that they may need and want in their lives.