Money in your ABLEnow account may be used to pay for Qualified Disability Expenses. An expense is “qualified" if:

1. You incurred the expense at a time you were considered an “Eligible Individual;”
2. The expense relates to your disability; and
3. The expense helps you maintain or improve your health, independence or quality of life.

Each person is unique and the needs of individuals can vary depending on the disability, circumstances and specific treatment.

ABLEnow accounts may be used to pay for a variety of expenses related to maintaining the Eligible Individual’s health, independence and quality of life. The major categories of expenses include:

• Basic Living Expenses
• Health and Wellness
• Housing
• Financial Management
• Transportation
• Education and Training
• Assistive Technology
• Legal Fees

An ABLEnow account is disregarded when determining certain federal benefit eligibility with the following two exceptions for individuals receiving Supplemental Security Income (SSI):

1. For the purpose of determining eligibility for SSI, money in an ABLEnow account in excess of $100,000 is considered an asset to the individual with a disability and may cause SSI benefits to be reduced or suspended. An account balance up to and including $100,000 is disregarded.
2. A withdrawal that will be used for a housing expense but that is not spent in the same calendar month is considered an asset to the individual with a disability and may cause SSI benefits to be reduced or suspended.

Annual contributions to an ABLEnow account are currently limited to $19,000. Working account owners who do not participate in an employer-sponsored retirement plan may be eligible to contribute above the annual ABLE contribution limit.

The cumulative ABLEnow account value limit is currently $550,000.