MDABLE: MARYLAND ABLE (Achieving a Better Life Experience)

ABLE (Achieving a Better Life Experience) makes it easier than ever to save money for all of your disability-related needs. More independence, greater financial security and a better quality of life – that’s the future Maryland ABLE is building. MD ABLE accounts are a new way to help individuals with disabilities save money and pay for qualified disability-related expenses without jeopardizing federal means-tested benefits such as SSI or Medicaid. Governor Hogan signed the Achieving a Better Life Experience

Source: MDABLE

ABLE (Achieving a Better Life Experience) makes it easier than ever to save money for all of your disability-related needs.

More independence, greater financial security and a better quality of life – that’s the future Maryland ABLE is building. MD ABLE accounts are a new way to help individuals with disabilities save money and pay for qualified disability-related expenses without jeopardizing federal means-tested benefits such as SSI or Medicaid.

Governor Hogan signed the Achieving a Better Life Experience (ABLE) Act (HB431) on April 12, 2016 enabling Maryland to begin building an ABLE program. The Maryland ABLE program will be implemented by Maryland 529. State and local means-tested programs cannot use ABLE funds as part of eligibility considerations and Maryland taxpayers who contribute to a Maryland ABLE account will receive up to a $2,500 income tax deduction.

Maryland ABLE is projected to be operational October 2017.

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