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Public Benefits

Keep Your Government Benefits

Eligible individuals with disabilities can save up to $18,000 per yearfootnote 1, not to exceed a lifetime maximum of $500,000, in a tax-advantaged Account and funds up to $100,000 are generally disregarded for purposes of determining eligibility to receive government assistance or benefits. There are exceptions and you should carefully read the ABLE and Government Benefits Considerations section of the Program Disclosure Statement for more information and you should also consult your disability benefits advisor(s) with questions about how participation in the Program might affect you.

U.S. Department of Housing and Urban Development (HUD)

As of the date of the Program Disclosure Statement, no final guidance has been issued by HUD related to the effect ABLE will have on housing benefits.

Footnotes

  1. Annual contributions to an ABLE account cannot exceed the individual gift tax exclusion for that given year unless the expanded contribution for working individuals with disabilities under the Tax Cuts and Jobs Act of 2017 applies.