The federal Achieving a Better Life Experience (ABLE) Act allows qualified individuals with disabilities to open tax-exempt savings accounts to save for disability-related expenses without impacting eligibility for resource-based benefits. The Act permits qualified individuals with disabilities to save more than a total of $2,000 in assets such as cash and savings in their name in a qualified ABLE account.
Federal law allows qualified individuals to open an ABLE account in any state’s program that is accepting such enrollment. The states listed below in alphabetical order are accepting enrollment from qualified Oklahomans. Click on a state name listed below to be linked to its ABLE website, where you can learn qualification details, investment options and other pertinent information.
- North Carolina
- Rhode Island
UPDATE: On July 21, 2017, the Oklahoma State Treasurer issued a Request for Information for ABLE Program Provider Services for an Oklahoma ABLE program. Responses are due by August 21, 2017. The Request for Information can be viewed here: Request for Information for ABLE Program Provider Services for the State of Oklahoma.