ABLE Accounts Now Available

Attorney Alyssa Graham

June 2016

In continuation of our series of posts regarding the Achieving a Better Life Experience Act (the ABLE Act), we are excited to inform you that the first ABLE account programs are now up and running.

The ABLE Act was passed in December of 2014, to allow tax-favored savings accounts for individuals who are blind or disabled that will not disqualify the beneficiary from eligibility for government benefits, provided that certain requirements are met. Our first article, posted last March, New ABLE Accounts Allow Savings for Special Needs Individuals, discussed the federal legislation. In April of this year, we posted an article, New Hampshire ABLE Accounts Take the Next Step, discussing progress made towards establishing an ABLE savings account program in New Hampshire. Now two states have launched programs open nationally, Ohio and Tennessee.

When initially passed in 2015, the ABLE act indicated that an individual could only take advantage of a program established by their home state, this requirement was removed by a subsequent amendment. Now, just like with the 529 college saving accounts, an individual can choose to establish an account in any state with a national program. The result is New Hampshire individuals looking to establish an ABLE account can take advantage of programs in states who offer national plans that are already up and running.

The first state to launch its program was Ohio. Ohio launched its, 'œStable Account' program one June 1st, 2016. For more information about Ohio's program, you can visit the website: The second state to launch is Tennessee, which began offering 'œABLE TN,' in June. Information about this program can be found on its website: To date, Ohio's STABLE Account program and ABLE TN are the only two programs enrolling beneficiaries in the country. Both programs allow individuals to enroll through their websites.

Several other states are expected to launch programs soon, including, Nebraska, which will be another national program. For progress on state ABLE account programs you can find additional information through the ABLE National Resource Center at