Program Overview

The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (the “Act”) was passed by Congress and signed into law by the President to provide certain individuals with disabilities a means to save for disability-related expenses. It allows creation of a qualified ABLE program by a state (or agency or instrumentality thereof) under which an ABLE account may be established for an individual with a disability who is the Designated Beneficiary and owner of that account.

The Texas Legislature enacted the Texas Achieving a Better Life Experience Act that established the Texas ABLE^® Program (“Texas ABLE” or the “Program”) (1) to encourage and assist individuals and families in saving funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life; and (2) to provide secure funding for qualified disability expenses on behalf of Designated Beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, the Medicaid program under Title XIX of the Social Security Act, the Supplemental Security Income program under Title XVI of the Social Security Act, the Social Security Disability Insurance program under Title II of the Social Security Act, the Designated Beneficiary’s employment, and other sources.

The Texas Prepaid Higher Education Tuition Board, with assistance from the Texas Comptroller of Public Accounts, administers the Program.

The Program cannot provide legal, tax, financial, benefit, or investment advice. Contact your attorney or other advisor regarding your specific legal, tax, financial, benefit, or investment situation.