Public Benefits

Keep Your Government Benefits

Eligible individuals with disabilities can save up to $20,000 per yearfootnote 1, not to exceed a lifetime maximum of $500,000, in a tax-advantaged Account and funds up to $100,000 are generally disregarded for purposes of determining eligibility to receive government assistance or benefits such as Supplemental Security Income (SSI) and Medicaid. There are exceptions and you should carefully read the ABLE and Government Benefits Considerations section of the Program Disclosure Statement for more information and you should also consult your disability benefits advisor(s) with questions about how participation in the Program might affect you.

U.S. Department of Housing and Urban Development (HUD)

HUD has issued guidance stating that ABLE account balances are excluded from income for purposes of determining eligibility for HUD benefits.

Supplemental Nutrition Assistance Program (SNAP)

The U.S. Department of Agriculture has issued guidance stating that ABLE account balances are excluded as both income and resources in determining SNAP eligibility.

Footnotes

  1. Annual contributions to an ABLE account cannot exceed the annual contribution limit for that given year unless the expanded contribution for working individuals with disabilities under H.R. 1, 119th Congress, applies.