No Previous Policy
Achieving a Better Life Experience (ABLE) accounts are special savings accounts for disability related expenses. These accounts can be set up by people whose disability began before age 26.
Exclude the funds held in ABLE accounts from resources. This includes deposits, interest and dividends earned and account balances.
If the beneficiary is an SSI recipient and the account balance exceeds $100,000, the funds over $100,000 count as an asset for SSI purposes only. If SSI is suspended due to being over resources, see sec. 303-2.
The state will be a creditor on ABLE accounts upon the individual's death.
Link to 417-16 for income exclusion