An Achieving a Better Life Experience (ABLE) account provides a tax-advantaged method to save for disability-related expenses. Earnings in an ABLE account are not subject to federal income tax and, in most cases, state income tax as long as the withdrawals are used for qualified disability expenses.

Qualified disability expenses relate to disability or blindness and seek to maintain or improve the beneficiary’s “health, independence, or quality of life” and include: education, housing, transportation, employment training and support, assistive technology, personal support services, health, prevention and wellness, financial management, administrative services, legal fees, expenses for oversight and monitoring, and funeral/burial expenses. Read More