December marked the 9th anniversary of the signing of The Achieving a Better Life Experience, or ABLE Act.

The first ABLE program opened in 2016 and today - 46 states and Washington D.C have ABLE programs. Jack Myers with Social Security says ABLE provides a way to save money and build financial independence without affecting eligibility for important benefits like SSI), Medicaid, and HUD Housing Assistance. 

If you are on SSI you can save up to $100,000 in your ABLE account without affecting eligibility for SSI benefits. Myers explains ABLE programs allow people with disabilities to save without losing access to important benefits. 

The range of qualified disability expenses is extensive and Myers indicates it includes everything from day-to-day living expenses like grocery or rent -to bigger expenses like assistive technology and vehicle adaptations. To have an ABLE account a person must have become disabled before the age of 26.

Other people can contribute money to an ABLE Account for a person without affecting SSI eligibility. Myers says the IRS may count gift contributions as income, but they won’t affect the account holder’s SSI eligibility.

That website one more time is illinoisable.com.