STABLE Account

STABLE Account (sometimes called ABLE Account) 40 allows people with disabilities to save and even invest without penalty.   

If employed, additional contributions to the STABLE Account are allowed. The money can be placed in a savings account or one of four investment plans, allowing the account(s) to grow like a retirement account. A monthly prefilled debit card is available for spending. For more information about STABLE accounts, visit ASGA’s website for a recorded webinar.

Unlike a Special Needs Trust, the money can be used for any “disability-related expenses,” which include housing, medical needs, education, etc. The account is simple to set up online, and the parent/guardian or, if appropriate, the individual, can be the administrator.