Opening an ABLE Account: A Guide for Individuals with Disabilities
If you are a person with a disability who acquired your condition before the age of 46, you will be able to open an Achieving a Better Life Experience (ABLE) account starting January 1st, 2026.
What is an ABLE Account?
ABLE accounts are designed to help individuals with disabilities save and invest money without affecting their eligibility for essential programs like Medicaid and Social Security. These programs are vital lifelines for many, yet they often impose income limits that can hinder financial independence. Introduced in December 2014, ABLE accounts emerged from the Achieving Better Life Act, which amended federal tax laws to provide tax-advantaged savings accounts for people with disabilities.
Upcoming Changes
Previously, only individuals whose disabilities began before age 26 were eligible to open an ABLE account. The forthcoming change will expand eligibility to anyone who acquired their disability prior to age 46. This is significant, as it opens the door for millions—including veterans—who developed disabilities between ages 26 and 46, allowing them to work towards financial stability.
If you’re interested in taking advantage of this upcoming age requirement change, follow these steps:
1. Verify Your Eligibility
– Confirm that your disability began before age 46.
– If you haven’t received Social Security disability benefits before age 46, request a disability statement from your doctor indicating the onset of your condition. You may use the sample ABLE Account Disability Certification Form for this purpose and keep the documentation for your records.
2. Select an ABLE Plan
– Remember that only one ABLE account can be opened per individual.
– Visit How Do I Choose a Plan to explore options that best fit your needs. Most accounts can be opened online. ABLE plans permit authorized representatives to help manage the account, but the individual with the disability remains the account owner.
3. Compile Information
– To streamline the online enrollment process, check How Do I Open An Account. The account must be opened in the name of the individual with the disability.
Gather necessary details such as:
– The account owner’s date of birth
– Mailing address
– Email address
– Social Security or tax identification number
– Mother’s maiden name
– Primary disability
– Information about any designated authorized representatives
– Status and type of Social Security benefits, if applicable.
You can start filling out your ABLE plan application online but wait to submit it until January 1, 2026.
4. Open Your ABLE Account
– As many celebrate the New Year on January 1, 2026, you can take advantage of the opportunity for financial stability by submitting your online application to open your ABLE account. Many account owners report that the enrollment process is straightforward and takes less than 15 minutes.
For additional information on ABLE accounts, visit the ABLE National Resource Center