ABLE account

ABLE accounts are a savings option for people with disabilities.

The Achieving a Better Life Experience (ABLE) Act is the law that lets you set up an ABLE Account. 

  • You can put up to $16,000 a year into this account and earn tax-free interest.

  • This money will not affect government benefits like SSI and MassHealth (up to a limit of $100,000).

  • ABLE accounts are only for people who developed their disability before age 26.

Money in ABLE Accounts can be used for specific disability-related expenses, including: Housing, Transportation, Job training, Health expenses, Assistive technology, Personal support services, Legal expenses, and Financial fees.

Learn more:

Source: National ABLE Resource Center