Any person may contribute to an ABLE account for an eligible beneficiary. A contribution is the deposit of funds into an ABLE account.An eligible individual may have only one ABLE account.Note:We do not determine ABLE eligibility. Conditions on SSA’s “List of Compassionate Allowances Conditions” are deemed to meet the requirements for filing a disability certification if the condition was present and produced marked and severe functional limitations before the individual attained age 26.Includes a certification that the individual has a copy of the diagnosis relating to his or her relevant impairment(s), signed by a physician.Certifies that the individual is blind or has a physical or mental impairment that results in marked and severe functional limitations and that such blindness or disability began before age 26.A disability certification, to be signed by the individual or someone else establishing the ABLE account for the individual:.the subject of a disability certification.receiving disability insurance benefits (DIB), childhood disability benefits (CDB), or widow’s with disabilities or widower’s benefits (DWB) based on blindness or disability that began before age 26.in SSI suspense due solely to excess income or resources but otherwise eligible for SSI based on blindness or disability that began before age 26.receiving Supplemental Security Income (SSI) based on blindness or disability that began before age 26.The designated beneficiary of an ABLE account is the eligible individual who owns the ABLE account. IMPORTANT FACTS TO KNOW ABOUT THE ABLE ACT The law aims to ease financial strains faced by individuals with disabilities by making tax-free saving accounts available to cover qualified disability expenses. The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE) became law on December 19, 2014.
INFORMATION ABOUT TAX-FREE SAVING ACCOUNTS FOR DISABLED INDIVIDUALS Links to SSI Spotlights Home / Spotlight on Achieving a Better Life Experience (ABLE) Accounts
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