Washington State ABLE Savings Plan
A flexible and convenient way for people living with disabilities to invest in their quality of life
A Washington State ABLE Savings Plan allows people with eligible disabilities to save for their everyday needs, invest in a tax-advantaged account and prepare for the future without losing their state or federal benefits.
Washington State ABLE Savings Plans are easy to open and simple to manage. Individuals can make direct contributions and can also make payroll contributions through the ABLE to Work program. Friends and family can also easily contribute to ABLE accounts.
Washington State ABLE Savings Plans empower individuals with disabilities to save for qualified expenses and invest in their future.
Not a Washington State resident?
What is the ABLE Act?
Millions of people with disabilities rely on public benefits and federal programs such as Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, and others for their basic living needs, but even those benefits can be limiting. Those receiving much needed benefits, like SSI, are restricted to having only $2,000 in assets.
The Stephen Beck Jr, Achieving a Better Life Experience Act, known as the ABLE Act, was passed by Congress in 2014 to help people save for the costs of living with a disability and invest for the future in a tax-advantaged investment account without losing benefits.
Who can contribute?
Did you know that you can make a financial gift to a loved one’s ABLE account? It is quick and easy.
Your gift empowers your loved one with freedom and choice in their financial future. ABLE account owners can save the gifts you generously make for future eligible expenses like assistive technology and equipment, educational pursuits, housing and more. Give more than a gift.
What qualifies as an eligible expense?
The money from the account can be used for everyday needs or an unexpected turn of events. The eligible expenses are geared towards improving health, independence, and quality of life and include:
Living expenses
Education
Housing
Transportation
Employment training and support
Assistive technology
Personal support services
Health, prevention, and wellness
Financial management
Administrative services
Legal fees
Oversight and monitoring
Funeral and burial
Find out more about qualified expenses
What makes our program special?
The Washington State legislature established the Washington State ABLE Savings Plan as a way to save for qualified disability expenses, invest for the future, and keep the benefits you rely on every day.
Our mission is to empower everyone with an eligible disability to make decisions with their money, which can positively impact their health, independence, and quality of life, and help them prepare for whatever the future may bring. Our support team will go above and beyond for you. They are highly trained to support and empower beneficiaries. They provide the information and tools you need to be successful with ABLE.
In addition, we’ve partnered with Vestwell, a program manager that offers a simple and intuitive online platform that helps people manage their ABLE accounts and reach their goals.
Sign up for Washington State ABLE eBlasts
Our eBlasts contain valuable information for account owners, individuals with disabilities, and organizations that support the disability community. To sign up for our eBlasts, or to access your subscriber preferences, please enter your contact information below.